Main analysis

Update for: 2011-02-21 - 2011-02-27

Posted on: Sunday, 20 February 2011 18:47


EURUSD: 1.3692

 Short-Term Trend:  weak uptrend

Outlook: EURUSD built a nice base earlier last week and that was the reason why we favored another long position in our mid-week update on Wednesday. Then, on Friday, EUR broke firmly on the upside and confirmed our bullishness here. Now, as long as the single currency stays abv 1.3530/20, it is uptrending and we expect to see gains twd the 1.4045 level.
On the upside, only below said support negates, risks decline twd 1.3420/00...

I have also recorded a video in which I discuss the Short-Term prospects before the U.S. dollar. In the video I take a look at the technical picture in EUR/USD, GBP/USD, USD/JPY, NZD/USD and AUD/USD.

Strategy: Holding long from 1.3560 is favorable. Stop=1.3510. Target=1.4010

Next Update: Wed, 02/23/2011, 09:00 - 10:00 CET

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