For Traders

Analytical Reviews

Technical analysis

22.10.201413:53 Forex Analysis & Reviews: Technical analysis of EUR/USD for October 22, 2014

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Trading recommendations:

According to the previous events, the price of the EUR/USD pair is still moving between the levels of 1.2625 and 1.2755. Moreover, it should be noted that the market was so stable and the trend was also too clear (downward). Similarly, we expect a range around 72 pips today. Additionally, the value of 50% Fibonacci retracement levels is 1.2755 for that the key level of 1.2755 represents a downtrend to confirm the bearish market. Also, it should be noted that the weekly pivot point is set at the same level. Therefore, sell deals are recommended below the 1.2755 level with targets at 1.2665 in order to test weekly support 1, and it will resume towards the double bottom at the price of 1.2620.

Daily technical levels:

Date:22/10/2013

Pair:EUR/USD

Projected high: 1.2830
Breakout (buy stop): 1.2766
Strong resistance (sell limit): 1.2755
Weekly Pivot: 1.2630
Strong support (buy limit): 1.2625
Breakout (sell stop): 1.2591
Projected low: 1.2563

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.