Wednesday, October 24, 2012

EUR/USD Technical Analysis - October 24, 2012

EUR/USD Technical Analysis - October 24, 2012

EUR/USD pair experienced a strong downside impetus during yesterday trading session. The previous support level at 1.3024 was unable to maintain an impulse power and currently the price is around a 1.2970 level. 

Also, the exchange rate is breaching uptrend line, which was started on July 24. If the price settles below this line, it is very likely to see EUR/USD depreciation in the short run. Read more