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EURUSD stays in a trading range
Sunday, October 14, 2012 19:32
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EURUSD stays in a trading range between 1.2803 and 1.3071. Another rise to test 1.3071 resistance would likely be seen, a break above this level will signal resumption of the longer term uptrend from 1.2042, then next target would be at 1.3500 area. However, as long as 1.3071 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.3171, one more fall to 1.2700 area to complete to downward movement is still possible.
