Home EUR/USD Maintains Broader Medium Term Upside Bias – Technical
Forex News Today: Daily Trading News

EUR/USD Maintains Broader Medium Term Upside Bias – Technical

EURUSD: With continued hold on to its broader uptrend seen, more gains are likely in the days ahead. As long as it holds above the 1.3568 level, its medium term uptrend remains intact.

Resistance resides at the 1.3710 level, its Feb 01’2013 high with a breach targeting the 1.3750 level followed by the 1.3800 level and possibly higher towards the 1.3850 level.

Its daily RSI is bullish and pointing higher supporting this view. Conversely, on a price failure it will target the 1.3500 level followed by the 1.3456 level and then the 1.3321 level.EURUSD

A cut through here will target the 1.3250 level. Further down, support comes in at the 1.3165 level.

All in all, EUR continues to retain its upside bias in the medium term.

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.