EUR/USD : A medium term bullish slant still active
--- Follow up analysis ---
Since monday, the pair EUR/USD has started a bullish rally after has taken support on 1.29. The breakouts of 1.30 and 1.3050 both gave us a new buy signal yesterday. The price is currently testing the next resistance at 1.31.
We advise to trade only long positions as far as 1.30 is support. The breakout of 1.31 will offer a new buy signal and should open the way towards 1.3150 (highs of September).
In case of return below 1.30, we will then advise to trade only short positions.
NB: Traders with a more agressive strategy could trade the pair according to 1.3050 (long above and short below).
Analysis published by Vincent, the 10/17/2012 at 10h30 GMT+2
Chart of the pair EUR/USD - Timeframe 1H
Chart of the pair EUR/USD - Timeframe 4H
|EUR/USD Live Chart - Timeframe : 4h|
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