EURUSD: Rallies, Looks To Extend Upside Gains

EURUSD: With EUR overcoming the 1.3125 level on the back of its strong rally the past week, further upside offensive is likely in the new week. The immediate target resides at the 1.3171 level with a breach of here resuming its broader uptrend towards the 1.3282 level and possibly higher towards the 1.3350 level. Its weekly RSI is bullish and pointing higher supporting this view. On any pullback back from its present price levels, support lies at the 1.2822 level. Below here stands another support at the 1.2660 level with a cut through there calling for a run at the 1.2498 level where a break will aim at the 1.2400 level. All in all, EUR faces further upside threats in the new week.

If Fiscal Cliff deal is done then we may see 1.3300-1.3350 on EUR/USD

Surely. And above 1.33, I see even 1.35 in sight. Stay tuned. :slight_smile:

“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
-Mark Twain.