EUR/USD : Exit of its medium term bearish channel
--- New analysis ---
The pair EUR/USD has validated yesterday the breakout of 1.30, offering a new buy signal. The price just made a pullback on this level and is currently trying to take up its bullish movement. The pair is still moving above its medium term bullish slant.
We continue to advise long positions as far as 1.2950 is support. The breakout of 1.30 will give a new buy signal and should allow the price to reach the resistance at 1.31.
In case of return below 1.2950, we will be again neutral between this level and 1.29.
Analysis published by Vincent, the 10/05/2012 at 10h00 GMT+2
Chart of the pair EUR/USD - Timeframe 1H
Chart of the pair EUR/USD - Timeframe 4H
|EUR/USD Live Chart - Timeframe : 4h|
For more reports, go to Forextribe