EUR/USD Weekly Technical Report 20-24/10/2014
ecPulse
2014-10-20 07:10AM UTC
By examening the above graph, we notice that the pair failed to remain stable above 23.6% correction at 1.2780. Therefore, the bullish wave weakened and the pair went to trade again in a relatively tight levels. Despite that, Linear Regression Indicators are trading positively and MACD is trading in a bullish bias keeping the possibility of a bullish wave.
To confirm the positive outlook, the pair should stabilize above 1.2780 again or else, the overall downside move remains valid. Breaking 1.2655 indicates ending the current bullish correction.
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