Technical analysis EUR/USD 31 January 2013


Growth on this pair, as expected, has continued, but on the way to the next target – the level of 1.3600, the price has met resistance and now it is around 1.3550/60. In this case, topicality assumptions of  last comment that the retreat from 1.3560 or 1.3600 has announced the beginning of the next rollback, which may be either the start of a turn, and another prolonged correction. Indicators remain testimony on the “bullish” extension, which could mean continued growth, and if that happens, there will be good reasons to identify the following objectives in the price range 1.3700/1.3800. At the same time, the power levels  the pair increased to , can trigger the growth arrest and even deploy upward trend. In this situation, there is a a high probability of false punctures of  barriers at 1.3600. It is possible that the “bulls” will make one more thrust upwards, will mark slightly above this level, and only then the expected decrease will begin.

EUR/USD - 31.01.13


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