Forex4you Technical Analysis 11 January 2013

EUR/USD: consolidation in uptrend

The EUR/USD rallied strongly yesterday. Today we have had some sideways activity. A decisive break above the range highs at 1.3282 would probably see another bullish leg first to the 1.3307 highs and then even higher to 1.3356, as a much higher eventual upside target is expected in the 1.39s. If the range lows at 1.3248 are broken a move lower could reach to perhaps the trend-line at 1.3170.

Analysis by: Joaquin Monfort
Forex4you analyst

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