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FOREX: Technical analysis 29.10.2012

29.10.2012

Market Review

EUR / USD

News background:

Pair decreases with the overall incidence of appetite for risky game on the eve of the U.S. presidential election.

Technical picture:

From a technical point of view, the price is in the short-term downtrend in the lower Bollinger below EMA 5, 21, and SMA 100 and 200. Pair has the potential to reduce local, if kept below the level of 1.2575.

LED Stoch. indicating a potential decrease in pair. RSI also supports the possibility of reducing pary.

Trading recommendations.

Buy the pair on the rebound from a local to 1.2940.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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