EUR/USD Daily technical analysis October 29, 2014


EUR/USD Daily technical analysis October 29, 2014
currency pair movement [main scenario]
The pair was moving according to the last forecast report, and now the pair continues to move in the ascending movement, Tenkan and Kijun lines are bound below the price, the price is moving above the ascending cloud, the further ascending movement is being expected. We should buy the pair above the 1,2720 support level, set take profit at these resistance levels - 1,2748, 1,2770, 1,2790.
currency pair movement [alternative scenario]
If the pair succeeds to break through and get fixed below the 1,2720 support level, in such a case the further descending movement till these support levels - 1,2697, 1,2675 is very possible.
LEVELS
Resistance: 1,2748; 1,2770; 1,2790.
Support: 1,2720; 1,2697; 1,2675.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD drops below 1.0800 after German Retail Sales data

EUR/USD drops below 1.0800 after German Retail Sales data

EUR/USD has come under fresh selling pressure and trades below 1.0800 after the data from Germany showed that Retail Sales declined by 1.9% MoM in February. Resurgent US Dollar demand is adding to the downside in the pair. US data are next in focus. 

EUR/USD News

GBP/USD stays weak near 1.2600 amid market caution

GBP/USD stays weak near 1.2600 amid market caution

GBP/USD remains defensive near 1.2600 in European trading on Thursday. The hawkish tone from Fed Governor Christopher Waller keeps the US Dollar afloat amid a cautious trading environment ahead of key US data releases and the Good Friday trading lull. 

GBP/USD News

Gold price bulls keenly await US PCE Price Index on Friday before placing fresh bets

Gold price bulls keenly await US PCE Price Index on Friday before placing fresh bets

Gold price (XAU/USD) continues with its struggle to make it through the $2,200 mark on Thursday and oscillates in a narrow trading band through the early part of the European session. 

Gold News

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase. 

Read more

Portfolio rebalancing and reflation trades emerge into Q2

Portfolio rebalancing and reflation trades emerge into Q2

Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.

Read more

Majors

Cryptocurrencies

Signatures