Forex4you Technical Analysis 05 March 2013

EUR/USD: rebounding

The EUR/USD pair has rebounded. If it breaks above the key 1.3100 level then it will probably reach the top of the channel at 1.3150 where the 100-day MA is also situated nearby. There are no strong signs of reversal and the current upside is probably just a pull-back. The down-trend should resume eventually and probably reach the target from the head and shoulders top at 1.2900.

Analysis by: Joaquin Monfort
Forex4you analyst

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