Technical analysis EUR/USD 23 October 2012


Price remained in a narrow side corridor 1.3060/70 – 1.3020/10 test  and now is testing the support’s of the formation strength. The pair is trading around the 1.3020/25 level. The Indicators show intensification of the “bears’” preferences It threatens to breakdown of  tested now barriers and  fall the 1.2980 level,   which is the key on the way down. However, until these barriers are not overcome, the resumption of growth toward the above-mentioned goals 1.3260/40 – long-term downtrend line (blue line) can be considered as a priority scenario. If the breakdown 1.2980 does happen, it will raise to the agenda implementation assumptions providing further reduction, to the 1.2800 level.

EUR/USD - 23/10/12


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