EURUSD Analysis – October 25, 2009

EURUSD stays in a rising price channel on daily chart and remains in uptrend from 1.3748, and the rise has extended further to 1.5060 level. As long as the channel support holds, uptrend is expected to continue in a couple of weeks. However the pair is recently facing the upper border of the price channel, minor consolidation is expected after touching the border line.

For long term analysis, EURUSD remains in long term bullish movement from 1.2456, further rise is possible to 1.5200-1.5500 area in next several weeks.

eurusd daily chart