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15th Oct 2014 EUR/USD Analysis

15th Oct 2014 EUR/USD Analysis

dollar, Draghi, ECB, EUR/USD, EUR/USD Forecast, EURO, European Central Bank, EURUSD analysis, EURUSD outlook, EURUSD technical analysis, Mario Draghi, referendum, spain, U.S Dollar, USD, EUR/USD outlook, EURUSD forecast EUR/USD fails to break above and out of the downtrend channel and negotiates its way towards 1.2600

dollar, Draghi, ECB, EUR/USD, EUR/USD Forecast, EURO, European Central Bank, EURUSD analysis, EURUSD outlook, EURUSD technical analysis, Mario Draghi, referendum, spain, U.S Dollar, USD, EUR/USD outlook, EURUSD forecast, ZEW Resistances today at 1.2700 and 1.274 will likely see the bears reenter the market and push the pair down towards 1.2600, 1.258

German ZEW, dollar, Draghi, ECB, EUR/USD, EUR/USD Forecast, EURO, European Central Bank, EURUSD analysis, EURUSD outlook, EURUSD technical analysis, Mario Draghi, referendum, spain, U.S Dollar, USD, EUR/USD outlook, EURUSD forecast 1.258-1.2600 is also a significant support that may form a higher low if prices fail to go lower today.

A sea of red engulfed the markets yesterday as the German ZEW Economic Sentiment went into negative figures for the first time since November 2012. An index above 0.0 is a optimism representation that echoes through German analysts and institutional investors. Month on month industrial production fell more than the estimated drop, coercing the market to sell off their Euro denominated assets as EUR/USD fell from 1.276 and never looked back for the entire trading day, stopping just 300 points above the 1.2600 psychological barrier attained 3 days ago.

An oversold signal on the H4 Stochastics Oscillator gives rise to possibility of a a retracement higher before falling, as the H1 Traditional MACD reminds us that the intraday trend is bearish on technical analysis. Patience and a timely response at the resistance is the key for today.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bearish1.25151.2581.26001.27001.2741.2771.271.2781.258

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