17.10.201404:12 Forex Analysis & Reviews: Technical analysis oа EURUSD for October 17, 2014

Long-term review

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Еhe strong US data pushed the pair 130 pips down, but in the end it managed to pare its intraday losses. In yesterday's session the pair touched 20Dsma and bounced from there. On the down side, below 1.2713 the pair has support between 1.2625-1.2606 levels. Today the pair opened below the previous close and as of now the pair has been unable to breach previous open at 1.2838 levels. We recommend fresh buying only above 1.2838, safe buying, above 1.2845, with targets at 1.2901 and 1.2955 (50Dsma). For an intraday view, the support level is at 1.2791, below this, 1.2768. We recommend safe selling below 1.2768 for targets at 1.2733 and 1.2712. Below 34hrsma (1.2700), we can see a sharp fall of 50-60 pips immediately.

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