Bull pressure is now seen as the cross continues to target higher prices following its recovery tone set from the 125.46 level. As referenced our Monday analysis, while this continues (bull pressure), we look for it to recapture the 133.04 level, its Dec 13'2010 high with a decisive clearance of that level will allowing for more strength towards the 134.20 level, its Nov 18'2010 high. We may see a price hesitation there which could turn the cross back down but in case that fails to occur, its Aug 03'2010 high at 137.75 will be targeted. Alternatively, a break back into its long-term falling channel will be required to reverse its current bullish build up. This will expose the 128.28 level, its Jan 10'2011 low and then the 125.46 level, its Dec 2010 low.
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