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FOREX: Technical analysis 23/10/12

23.10.2012

Market Review

EUR / USD

News background:

Pair renewed consolidation within 1.2870-1.3130 range. The main reason for this is to wait for the results of the elections in the United States, as well as decisions on monetary policy and the Fed.

Technical picture:

From a technical point of view, the price is in the lower Bollinger below EMA 5, 21, but still above the SMA 100 and 200. Pair has the potential to reduce the level of local 1.2940 in the short term, as the level of 1.3015 overcome.

Indicators Stoch. points to the possibility of continuing to reduce vapors and RSI gives a signal to sell the pair.

Trading recommendations. Sell to a local couple to 1.2940.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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