Eur/USD 15th October 2010

Euro Weekly and 5-day pattern

trend is simply defined by 1.4025.

If above it can move back towards the friday highs and Weekly highs @ 1/4164

however, whilst below the trend guide is down into support @ 1.396-73.

If it breaks out of that level, then the trend bias is to continue down into a lower Friday close.

This is based on the possibility that the USD index begins to climb upwards during the 3rd week of the month, which hasn't been confirmed as yet.

AUD/USD report below