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EURUSD Weekly Analysis - March 9, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 09 March 2014 07:35 UTC
EURUSD broke above 1.3892 resistance, indicating that the uptrend from 1.2747 (Apr 4, 2013 low) has resumed. Further rise could be expected after a minor consolidation, and next target would be at 1.4200 area. Support is located at the lower line of the price channel on daily chart, only a clear break below the channel support will indicate that lengthier consolidation of the uptrend is underway, then another fall to 1.3500 area could be seen.

eurusd chart

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