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EURUSD remains in uptrend from 1.2998

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 14, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD remains in uptrend from 1.2998, and the rise extends to as high as 1.3403. Further rise could be expected and next target would be at 1.3500 area. Support is at 1.3300, as long as this level holds, the uptrend will continue. On the downside, a breakdown below 1.3300 support will suggest that a cycle top is being formed on 4-hour chart, and consolidation of the uptrend is underway, then pullback to 1.3200 area to complete the consolidation could be seen.

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