EUR/USD Weekly Technical Report 27-31/10/2014
ecPulse
2014-10-27 07:16AM UTC
The pair moved to the upside this week and Linear Regression Indicator 34 and 55 are trading positively accompanied by trading above the previous bottom 1.2660. Despite that, RSI is still trading below line 50 and MACD is showing weakness in its positivity. Moreover, the pair is still within the overall downside move despite the current bullishness.
As for this week's trading, the bearish return is possible as long as the pair stabilized below 1.2815 with a daily closing. But we will wait to break 1.2660 and stabilize below it to suggest a downside move. Breaking 1.2660 and stabilizing below it leads to testing 1.2580 which will target 1.2485.
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