EURUSD Analysis – October 1, 2011

EURUSD remains in downtrend from 1.4548. Further decline is still possible next week, and next target would be at 1.3000 area. Resistance levels are at 1.3690 and 1.3936, as long as these levels hold, downtrend could be expected to continue.

For long term analysis, EURUSD is downtrend from 1.4939. Further decline towards 1.2000 is expected in next several months.

eurusd daily chart