Forex4you Technical Analysis 08 January 2013

EUR/USD: sideways day

The short-term trend is still up after the recent break of the neckline of an inverted head and shoulders and more upside is probable eventually. Today's action, however, is sideways and could continue oscillating. A move above 1.3140 would signal a continuation up to 1.3245, whilst a move below 1.3100 could see a break back down to 1.3050.

Analysis by: Joaquin Monfort
Forex4you analyst

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