Forex Technical Analysis of EURUSD for October 26, 2015 | Forex Signals Market
Sunday, October 25, 2015

Forex Technical Analysis of EURUSD for October 26, 2015

Support                              -   S1 : 1.0962 | S2 : 1.0907 | S3 : 1.0819
Resistance                          -   R1 : 1.1105 | R2 : 1.1194 | R3 : 1.1249
Main Trend                       -   Bearish
Intraday Trend                 -   Bearish

On forex technical analysis of 4H chart for exchange rate EURUSD, we can observe that price finds support on the bottom of the channel and at the same time moves at the lower channel of Andrew's Pitchfork. EMA(50) and EMA(200) is at the same point and ready to proceed to a downward cross (death cross).

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 1.1120  – 1.1152   is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.1184, 1.1225, 1.1315, 1.1355.

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0965, 1.0910, 1.0770.

1H Chart


The area 1.1020 – 1.1035  is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.1070, 1.1130, 1.1190, 1.1240.

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.0950, 1.0860, 1.0815, 1.0750.

Forex Technical AnalysisIn Daily chart on forex technical analysis for EURUSD, there is Harmonic Pattern: Bullish Gartley.

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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