EURUSD: Consolidating With Upside Bias

Trading Discussion News and Economy
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EURUSD: With EUR consolidating, there is risk of a return possibly to the 1.3171 level, its Sept 17’2012 high. A turn above here will call for a move higher towards its weekly ema at 1.3415 level. Its weekly RSI points higher suggesting further strength. On the downside, the risk to this analysis will be a return to the 1.2824 level. Further down, support lies at the 1.2692/1.2748 levels where a reversal of roles could occur. This could see the pair turn higher. However, if this fails to happen further declines will aim at the 1.2442 level. All in all, EUR looks to recapture the 1.3171 level on ending its consolidation.

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EURUSD Agree I think Long tomorrow. We could see some big players went onto the train at 1.2880 last Friday. We will see and wait for further rumors where is the barrier. I think we can see 1.3000/1.3030 soon.

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Hi,

Thanks for reply. We still maintain our upside bias on EURUSD with risk of recapturing the 1.3171 level a possibility.