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Forex4you Technical Analysis 05 Oct 2011

EUR/USD: Technical Analysis
 
Eurodollar's bounce has stalled. There is also a slanting H&S pattern at the highs. If the pattern breaks through its neckline it could reach support at 1.3200 or even the former lows at 1.3155 . However it is equally possible the rally could continue higher with the former highs at 1.3368 targeted at first and then the R1 pivot at 1.3430.
 
 
 
Analysis by: Joaquin Monfort
             Forex4you analyst
 
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