EURUSD Weekly Analysis - January 12, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 12 January 2014 07:07 UTC
EURUSD remains in uptrend from 1.2756, the fall from 1.3892 could be treated as consolidation of the uptrend. Key support is located at the lower line of the price channel on daily chart. As long as the channel support holds, the uptrend could be expected to resume, and another rise towards 1.4500 is still possible after consolidation. On the downside, a clear break below the channel support will indicate that the uptrend from 1.2756 had completed at 1.3892 already, then the following downward movement could bring price back to 1.1000 zone.

eurusd chart

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