Forex4you Technical Analysis 15 January 2013

EUR/USD: consolidating in up-trend

Eurodollar has rallied up to tough resistance from an old trend-line and the 100 week and 100 month MA's situated at 1.3390 and 1.3415 respectively. It has since pulled back and started consolidating in a range. Overall the bullish trend is intact so a push above the highs and rally to 1.3500 is probable. Alternatively, a move below 1.3330 could see a sell-off down to 1.3270.

Analysis by: Joaquin Monfort
Forex4you analyst

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