EUR/USD Daily technical analysis October 21, 2014


EUR/USD Daily technical analysis October 21, 2014
currency pair movement [main scenario]
The pair continues to move in the ascending trend, 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  1,2790 support level, set take profit at these resistance levels -  1,2812, 1,2870, 1,2900.
currency pair movement [alternative scenario]
If the pair succeeds to break through and get fixed below the  1,2780 resistance level, in such a case the further descending movement till these support levels -  1,2746, 1,2710 is very possible.
LEVELS
Resistance: 1,2812; 1,2870; 1,2900.
Support: 1,2790; 1,2746; 1,2710.

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