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Forex4you Technical Analysis 19 Dec 2012

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Forex4you Technical Analysis 19 Dec 2012

Postby albie » Wed Dec 19, 2012 11:12 am

EUR/USD: continuation higher

The trend up continues, strengthened by the break of the 1.3168 highs. Price is now also starting to breach the upper channel line of the current rally - a sign of surprising strength. It is also breaking above the weekly and monthly pivots clustered at 1.3258. If these fail then the next upside target might be 1.3485; any weakness, however, would be likely to return to the 1.3230-40 consolidation zone.


Analysis by: Joaquin Monfort
Forex4you analyst

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