Euro gathers is strength – Technical Analysis – 08-10-2015

The EURUSD pair declined yesterday, to trade within limited range attempting to gather positive strength, waiting to rise and re-attack the key resistance 1.1280 that represents 50% Fibonacci level for the bullish wave from 1.0847 to 1.1715, to lean on the moving average 50, along with the domination of the short term bullish trend carried by the trend line that appears on chart, with more positive signals coming from stochastic.

Therefore, we expect rising in the upcoming periods, but we need to confirm breaching 1.1280 and closing above it to target 1.1383 resistance as a first target.