Forex Technical Analysis of EURUSD for October 12, 2015 | Forex Signals Market
Sunday, October 11, 2015

Forex Technical Analysis of EURUSD for October 12, 2015

Support                             -   S1 : 1.1287 | S2 : 1.1216 | S3 : 1.1166
Resistance                         -   R1 : 1.1407 | R2 : 1.1457 | R3 : 1.1528
Main Trend                      -   Bullish
Intraday Trend                -   Bullish

At H4 chart, we can see that EMA(50) and EMA(200) have formed an upward cross. Price moves above EMA(50) and at the upper channel of an upward Andrew's Pitchfork and find support from the median line.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis

4H Chart


The area 1.1290  – 1.1320   is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.1395, 1.1430, 1.1470, 1.1500.

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.1255, 1.1220, 1.1175.

1H Chart


The area 1.1350 – 1.1363  is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.1390, 1.1415, 1.1440, 1.1475.

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.1330, 1.1310, 1.1285, 1.1250.

There are bearish Harmonic Pattern at H1, H4 and Daily charts.

Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy. We note the need to use stop-loss levels.

You agree with our estimates? If you have another point of view, you can write your opinion in comments.

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