Resistance: 1,3250-70/ 1,3300/ 1,3340/ 1,3385-00/ 1,3450/ 1,3510
Support : 1,3180/ 1,3140/ 1,3090/ 1,3040/ 1,3000/ 1,2950
Comment: The week's beginning was positive for euro, as bears could not lead the price below 1.2800 last week. The sharp rise above 1,3080 resistance levels, led to our first targets at 1,3250-00, and next targets are now set at 1,3380-00.
In the daily chart, the trend line that links December's tops has been reached, and so has the middle Bollinger. A corrective move from these resistance levels is technically possible, and could be considered as a pullback to 1,3080, which is turned into a support.
A move resumption below 1,3080, would find support at 1,3020-40, which is the lower range in terms of a retracement..Below 1,3020, our upward expectations would be canceled and a retracement to the base of 1,2800 or even lower, would be possible.
If retracements remain above these ranges, our targets at 1.3380-00 would be valid and the move could be resumed to 1,3750-00 area.
A daily close above the trend line and the middle Bollinger in the daily chart, would be a positive sign...