EUR/USD….1.3462….Uptrend

by Admin

daily chart

EURUSD: 1.3462

Short-Term Trend: uptrend

Outlook:

After spending a couple of weeks in a small sideways consolidation below 1.3400, EUR/USD broke out last week. Thus, our bullish view has been confirmed. The uptrend remains very strong and gains twd 1.3720 and possibly twd 1.4045 are expected in February.
On the downside, only a move below 1.3260 level will negate this bullish outlook and will signal a deeper pullback twd 1.3000. With this in mind, we can raise the stop to just below 1.3260.

Strategy: Holding long from 1.3320 is favored against 1.3250. Target=1.3720.