Next Expected Resistance Level For EUR/USD

February 2, 2013 in Chart Alert

After breaking over the very critical resistance of 1,3486, EUR/USD did not look back and moved as high as 1.3711. Why 1.3486 was critical can bee seen first at  this EUR/USD chart alert and also towards the end of this EUR/USD update.

Though the weekly closing was not very bullish last week but a break over recent 1.3711 should open the door to 1.3832 which is 61.8% retracement of the downward move from 1.4940 to 1.2042.

EUR/USD weekly chart:

EUR/USD weekly chart - The Next Resistance

Comments are closed.