EURUSD - in the upcoming weeks

EURUSD - in the upcoming weeks

Postby Traveller » Mon Oct 11, 2010 6:52 am

I expect the followng scenario:

The pair will retrace to 38.2 Fib level, where it'll also meet 50 SMA support (the yellow line), after that EURUSD uptrend will be resumed.
The trend lines are in support as well.
Stochastic suggests that we expect a shallow retracement as well, MACD is about to cross too - and it'll take a rest from the current rally, which, by the way hit the 61.8 fib retracement of a larger degree wave.
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