EURUSD Analysis – October 9, 2010

EURUSD remains in uptrend and the rise from 1.2587 extended to as high as 1.4029 level. Upward movement is expected to continue next week and next target would be at 1.4300 area. Support is at 1.3635, only break below this level could indicate that the rise from 1.2587 is complete.

For long term analysis, EURUSD is in uptrend from 1.1876. Further rise towards 1.4700 area is expected in next several weeks.

eurusd daily chart