Technical analysis EUR/USD 25 January 2013


Judging by the events in the market the market holds the “bullish” view – the price has resumed growth and now is testing the new local maximum at 1.3440/30. Indicators have returned to the unanimous testimony in favor of growth, which has to give preferences to the scenario, of recovery, noted in the last comment. Namely – the breakdown of resistance range 1.3400/30 with fixing above will give good arguments to expect for rates growth to the 1.3500/1.3600 levels. At the same time, while 1.3400/30 resistance is not broken down, a serious danger of a return to decrease remains, and the downward spiral may be sharp. The fall from the current levels of trading below the 1.3250 support, but rather below 1.3200 will mark a high [probability to see a couple at 1.3000/1.2990 in the near future, and they contribute to increased risks of falling prices to 1.2670.60.

EUR/USD - 25.01.13


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