Up-trend continuing | 20 November 2013
20 November 2013, EUR/USD
EUR/USD continues rising. It has broken above multiple layers of resistance at 1.3525 and the key 1.3550 level, producing a more bullish outlook. The count from the recent 1.3295 lows has produced an upside target of 1.3685, and this will now probably be reached, although a move above the 1.3575 highs would provide confirmation. Currently a pull-back is breaking below the trend-line and it could fall lower, perhaps to 1.3525 resistance-turned-support. Overall, however, the trend is starting to look more bullish, signalling a possible resumption of the broader up-trend from the July lows.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
