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21 Oct 2013
EUR/USD, as long as above 1.3450 bull side favored - 2nsSkies
FXstreet.com (Barcelona) - On the back of its robust rally on Thursday, the EUR/USD appears to have finally set the stage for a defined upward bias in coming days/weeks, unless below 1.3450, notes Chris Capre, Founder at 2ndSkies.
According to Capre: "Still holding the bullish uptrend, the Euro is currently parked under the key resistance level at 1.3710 which is the yearly high. Although this pair has been on a 600 pip run, as long as it holds above 1.3450, the bull side is favored."
Potential levels to join the uptrend, in view of Capre, are "a breakout pullback setup above 1.3715 which would target 1.3830 or corrective pullbacks towards 1.3550 and the daily 20ema." Below 1.3450 negates the bullish bias, Capre adds.
According to Capre: "Still holding the bullish uptrend, the Euro is currently parked under the key resistance level at 1.3710 which is the yearly high. Although this pair has been on a 600 pip run, as long as it holds above 1.3450, the bull side is favored."
Potential levels to join the uptrend, in view of Capre, are "a breakout pullback setup above 1.3715 which would target 1.3830 or corrective pullbacks towards 1.3550 and the daily 20ema." Below 1.3450 negates the bullish bias, Capre adds.