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Bullish recovery continuing

Bullish recovery continuing | 05 December 2013

05 December 2013, EUR/USD

EUR/USD has bounced higher and broken above the 1.3620 highs. It has pierced above the down-sloping trend-line and is now rising up towards the 1.3740 target, generated from the count from the column up from the recent lows; another target is resistance at 1.3705. On larger box charts – the 25 and 50 box charts - the bullish trend is still intact so there is a slight bias higher, however, it is the ECB rate meeting today with the possibility of much volatility, and a further move lower is also quite possible, so traders beware.
Bullish recovery continuing
Mark Satcher
Analyst of «FreshForex» company
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