EUR/USD Around Trend Line. October 19, 2011 (Daily Strategy)

Technical analysis

Gerardo Porras

EUR/USD
The analysis of long-term (daily chart) euro-dollar pair shows the last upward wave That euro-dollar trend began in 04 october, this is about to be perforated, the pair has touched for the third time in its upward trend of the day today, if you broke so sharp and close the session of the day below 1.3660, it would signal a deeper fall until at least the level of 1.3200 dollars per euro.
On the other hand, a daily close above 1.3800 will give the confirmation of the continuation of the uptrend that accompanies it with a target to the 61.8% Fibonacci retracement, alrdedor of 1.4050 dollars per euro.

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