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Euros to Pounds – Euro Pound Chart 12th October 2009

The bullish momentum for the $uros to poundsr returned with a vengeance on Friday with the pair ending the week and the trading session with a solid wide spread up bar, which importantly had no shadow to the upper part of the candle, a further strong bullish signal.   This bullish tone for the Euro was further reinforced by the low of the day which found support from the 9 day moving average, a trend we have seen throughout the last few weeks which again is a positive sign that the current up move is likely to be sustained for some time to come.   With little in the way of meaningful resistance ahead our primary target for the pair is an attack on the 0.955 level and should we see a break and hold above this point then parity then becomes a distinct possibility, particularly given the anaemic nature of Sterling at present which has been helped by comments from Gov Mervyn King.

With national holidays in both the US and Canada trading volumes will be thin and this is compounded by a total lack of $undamental newsthe economic calendar for the UK and only one very minor item in Europe.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.