Recovery resuming | 04 December 2013
04 December 2013, EUR/USD
EUR/USD has bounced higher after breaking down through its 45° trend-line. It's too early to say whether this is a resumption higher or not and confirmation might be required from a break above the 1.3620 highs, which would then target 1.3705. Alternatively a move down to 1.3565 could signal a resumption lower and target 1.3485. On the larger 25 and 50 pip box charts the trend is still bullish, but the down-move from the October highs was very strong and pierced the lower channel line of a rising channel. Therefore there are a mix of bullish and bearish signs with the possibility of the next move being in either direction.
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.
