EUR/USD Daily Technical Analysis by ForexAbode.com

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November 8, 2012 12:07 AM EST

ForexAbode

 

EUR/USD Daily and Hourly charts 

EUR/USD Hourly Chart

EUR/USD Daily Chart

Euro - US Dollar Current Exchange Rate: 1.2819 (at the time of analysis update).

EURUSD Outlook: Short-term: Volatile sideways. Mid-Term: Down.

EUR/USD Analysis (November 7, 2012): Election results in U.S. ended the uncertainties and we expect some more strength in the U.S. Dollar and hence more downward moves but it's better to avoid a position today and we are keeping away.

Previous Analysis (October 31, 2012): Strong resistance is expected in the range of 1.3025 to 1.3040. Break of that resistance is required to expect any further gains. We are keeping away.

EUR/USD Correlation Values:

EUR/USD Correlation Graph:

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