The Euro Fx, the CME future based on the Eur/Usd cross, broke the psychological threshold of 1,30. Now, we have to do an analysis on a daily basis in order to comprehend the next targets for the next few trading days.
As we can see, the trend is clearly positive thanks to the conjunction of 4 minum on the same trend in the last 2 months. So, what's interesting? The Euro Fx tested a very important reference indicator, the 200 Moving Average. The 200MA is one of the most important indicators for a long-term technical analysis, because it calculate the average on the last 200 prices, a really impressive statistical sample. If you apply the 200MA on a daily basis chart, you can define the long/short trend for the next few months. In this case, the test of 200MA confirm the positive attitude of Euro Fx.
After the cross of the 200MA in the 12th semptember, we had seen a retracement on this indicator. From this retracement, there was a strong buy area in 1,2850 until the crossing of 1,30 level. The next targets for Euro Fx are 1,31 and then area 1,315/317, an enclosed area between the maximum of Bollinger Bands (1,315) and the long-term relative maximum at 1,317.