Euro has good chance to rise – Technical Analysis – 19-10-2015

The EURUSD pair declined on the previous session seeking a higher bottom that assist it to rally bullishly again, keeping the main bullish trend valid on the short term basis within an ascending channel, while it reaches now to the key support 1.1350, accompanied by consolidating above the moving average 50, most important, consolidating above the mentioned ascending channel’s support.

Therefore, we expect witnessing bullish actions in the coming sessions as long as 1.1350 support remains intact, targeting 1.1450 resistance level.