Monday, October 29, 2012

EUR/USD Technical Analysis - October 29, 2012

EUR/USD Technical Analysis - October 29, 2012

A new week starts with a slight decrease of EUR/USD pair, as the price settled beneath the upside trend, which began on 25th of July. Currently the price is very close to the 55-day SMA at 1.2878. 

The next support level would be 1.2840, where are the Bollinger band and the weekly S1, monthly PP levels. However, currently this pair is in a very vague situation and may develop into a new triangle pattern, a down sloping channel or just in a wide flat zone. Read more