EURUSD: Builds On Bullish Strength

EUR/USD: A follow through higher the past week suggests further price extension in the new week.

Further out, resistance resides at the 1.3750 level where a break will aim at the 1.3800 level. Price hesitation may occur here but if violated it will target the 1.3850 level. Its weekly RSI is bullish and pointing higher supporting this view.

Conversely, support lies at the 1.3300 level with a break turning focus to the 1.3250 level and possibly lower towards the 1.3200 level. We may see bulls come in here and turn the pair higher but further decline is seen expect a move lower towards the 1.3100 level.

All in all, EUR remains biased to the upside in the medium.

Guest post by  FX Tech Strategy


FX Tech Strategy

FX Tech Strategy

FX Tech Strategy provides simple forex research for Intra-day, swing and position traders. For over 6 years, FXTechstrategy has been committed to providing forex traders including intra-day, swing and position traders exceptional forex research with technical analysis expertise that makes trading decisions easy and painless. FXTchstrategy won Best Technical Analysis (forex best awards) by fxstreet in 2011 and was finalists, Star Awards by traderplanet in 2011 & 2012.