Technical Analysis Daily: EUR/USD

Daily Forex Technicals | Written by iFOREX.bg | Oct 30 08 06:35 GMT |

EUR/USD 1.3155 EUR/USD Open 1.2956 High 1.3287 Low 1.2633 Close 1.2966 The Euro made significant upward adjustment against the US Dollar yesterday. The currency pair reached a peak at 1.2975 and closed the day at 1.2966. Earlier this morning during the Asian market the couple continued trading higher. The CCI indicator is in upward direction to cross the 100 hour line on the daily chart, assuming a potential further upward adjustment. Although ascending momentum could continue today, it should be considered as a consolidation and long positions at this phase are not recommended. The main trend is still downwards. First resistance is 1.3305, which is 23.5% Fibonacci level of the movement 1.6034 - 1.2336. Immediate support is 1.2940 followed by 1.2850. Technical resistance levels: 1.2840 1.2920 1.3010 Technical support levels: 1.2940 1.2820 1.2630 Trading range: 1.3145 - 1.3205 Trend: Upward Buy at 1.3155 SL 1.3125 TP 1.3195 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com