Weekly Technical Stategist EURUSD 10 31 11

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Monday, 31th of Oct, 2011
WEEKLY TECHNICAL STRATEGIST EURUSD
FXTechstrategy Team
info_at_fxtechstrategy.com
EURUSD Sees Further Bullish Momentum, Eyes The
1.4283 Level And Beyond. EURUSD Having
decisively broken through the 1.3937 level, its
Sept 152011 low, EUR is going into the new week
bullish and targeting further upside gains. This
leaves the 1.4283 level, its Sept 062011 high as
the next upside target with a violation of here
setting the stage for more strength towards the
1.4342 level, its daily falling trendline and
then the 1.4550 level, representing its Aug
292011 high. Its weekly RSI is bullish and
pointing higher suggesting further strength. On
the downside, the risk to this analysis will be
for the pair to return below the 1.3913/37
levels, its Oct 17/Sept 152011 highs. This will
annul its present upside tone and bring further
weakness towards the 1.3690/50 levels. Below here
will activate further declines towards its Oct
102011 low at 1.3377 and then the 1.3144 level,
its Oct2011 low. All in all, with EUR bullish
and targeting further upside gains, risk remains
towards the 1.4283 level. To read the full
version of this 7 model currency analysis click
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