Euro-Dollar Analysis, October 10th 2012 (English Language)

Dear all,

please find attached below my video-analysis for the Euro:

After having violated the threshold area I have indicated yesterday at 1.2910-15, the Euro continued lower as expected touching and moving beyond the first target  in the 1.2870 area.

Now two scenarios are possible:

1) a continuation downwards with a retest of 1.2820 area which has already offered support at the beginning of last week, or a retracement into the 1.2965 area which would present a very good short opportunity with a target right into the 1.2820 support area.

2) the continuation towards 1.2820 could actually provide support once time more. If this were to occur, the second condition of our Euro price template would be satisfied and, very probably, the Euro would move again on the upside towards the 1.2970-90 area. Here the 20-day SMA would offer resistance.

However I want to warn that these are only anticipations, not expectations, because price can and will do whatever it wants. It is indeed possible that the 1.2820 will not offer any resistance, also because the next test is going to be a second test, a dangerous one.

Have a great day.

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

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