Technical analysis EUR/USD 30 January 2013

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Price growth has resumed and the couple performed the first condition of growth scenarios, as mentioned in previous comments – rose in the range of 1.3500-1.3600. The pair is trading around 1.3530/35. Indicators show strong preferences of increase, which could signal a further increase. The first obstacle on the way of “bulls” is the 1.3550/60 level and the 1.3600 is the next. If the data of resistance does not stop the upward trend, it will be a strong signal that in the future we can expect the pair rise to the 1.3750/1.3800 levels. Break out from 1.3560 or 1.3600 will announce the beginning of the next rollback, which can be either the start of a turn, and another prolonged correction.

EURUSD - 30/01/13

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