EUR/USD - 1.5038 Daily Market Outlook - Oct 26

on October 26 2009 4:12 AM

The single currency rallied to another fresh 14-month high of 1.5064 before retreating, however, as long as 1.4943 support holds, bullishness remains for medium-term uptrend to resume and extend maginal gain above said level but loss of momentum should cap price at 1.5123 today and bring a much-needed minor correction later.    On the downside, a breach of 1.4943 would signal temporary top is made and bring minor correction to 1.4883 but strong support at 1.4829 is expected to remain intact.

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