HighSky (HighSky)
Currencies  |  October 12, 2012 14:37:00

EURUSD in a lateral trend above the 200-MA


At the end of the week returns main currency pair EURUSD development, which met him on Tuesday when the main boundary line support remains 50% Fibo latest wave of growth recorded since the beginning of September. This corrective phase, is still above the 200-day average equilibrium prices.

Forex EUR / USD, a daily commentary

It will now be difficult to tell whether the EURUSD unwound later in the previously mentioned formation of zig-zag, or we will have a triangular formation. You might have better think about the beginning of a longer downward trend for the long term growth potential still prefer the USD against the EUR.The only radical change that is after about three weeks took place is that the sentiment index eased somewhat on the short side, and for this reason could be a further decline in the currency pair more realistic than in the past weeks. For further development so as vital metu just 200-MA and whether we keep the above that or come back to a declining trend.

Josef Kvarda
Analyst
HighSky Brokers

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