EURUSD- Having broken above its strong resistance  at  the 1.4446 level to resume its medium term uptrend activated  of the 1.2456 level, its Mar'09 low, EUR is now poised to head further higher. With that said, we now expect the pair to target its significant overhead resistance standing at the 1.4719 level, its Dec 18'08 high with a clean violation of there putting the pair on the path to further upside gains towards the 1.4875 level, representing its Sept 21'09 high. This view is supported by bullish signals from its weekly and monthly RSI. However,  if corrective pullbacks occur, price declines could seen targeting its Aug 05'09 high at 1.4446 where a reversal of roles is expected to turn the pair higher again. Furthermore, if that level snaps weakness could shape towards the 1.4176 level ahead of its psycho level coming in at 1.4000. On the whole, with its medium term uptrend triggered, risk remains higher in the days ahead.

Directional Bias:

Nearer Term -Bullish

Short Term - Bullish

Medium Term -Bullish

Performance in %:

Past Week:  +1.92%

Past Month: +0.55%

Past Quarter: +5.89%

Year To Date: +4.24%

Weekly Range:

High -1.4634

Low -1.4207

Weekly Chart: EURUSD:

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