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.
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.
