EURUSD Analysis – October 6, 2013

EURUSD’s upward movement from 1.2756 extends to as high as 1.3646. Support is located at the upward trend line on daily chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.4000 area. On the downside, a clear break below the trend line support will indicate that the uptrend has completed, then the following downward movement could bring price back to 1.3000 zone.

eurusd daily chart