Forex4you Technical Analysis 30 January 2013

EUR/USD: breakout higher

The EUR/USD pair has broken out above the sideways consolidation it was in yesterday and continued moving up strongly. Initially it will probably reach 1.3525 where there is tough resistance and then probably 1.3625, which is the extrapolation from the trend-line break. Overall the uptrend remains intact and higher prices are expected.

Analysis by: Joaquin Monfort
Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.