Euro-Dollar Analysis, October 9th 2012 (English Language)

Hello,

please find hereunder the video-review for today:

The 1.2945 area offered support yesterday but it was violated on the downside today after the beginning of the European session, showing that bulls seem to not have what it takes to guarantee a continued move on the upside for the Euro.

The threshold level 1.2915 indicated yesterday was tested to the pip, adding to its own significance. I do not believe bulls will be able to keep defending this level for long and I think that today or tomorrow the 1.2910-15 area will break, confirming the firm control of bears on the Euro, at least for the coming days. However we will need to see what price does. The Dollar index seems to have still some strength to push higher.

By violating the 1.2910-15 area on the downside the first of the 3 conditions, introduced yesterday in the post related to a possible scenario for the Euro that could play out in the coming days, will be satisfied

Have a great day.

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Filed under English language, Euro FX analysis and trade setups videos

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