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FOREX: Technical analysis 10/10/12

10.10.2012

Market Review

EUR / USD

News background:

Pair came under pressure due to the aggravated situation around Greece, as well as all kinds of speculation about the economic situation in the euro area and the prospects for its recovery.

Technical picture:

From a technical point of view, the price is in the lower Bollinger and below the MA 5 and MA 21. If the pair to stay above 1.2835 level, it has the potential to short-term growth.

Oscillator Stoch. is oversold. RSI indicator points to the suspension to reduce vapors.

Trading recommendations. Buy a pair from a local to 1.2940.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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