EURUSD Analysis – October 2, 2010

EURUSD continues its upward movement from 1.2587 and the rise extends to as high as 1.3792 level. Further rise is still possible next week and next target would be at 1.4000 area. Support is at 1.3495, as long as this level holds, uptrend could be expected to continue.

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