EURUSD Analysis – November 6, 2010

EURUSD remains in uptrend from 1.1876. The price action from 1.4152 is treated as consolidation of uptrend. Pullback to 1.3800-1.3900 area is expected next week. As long as 1.3698 key support holds, uptrend is expected to resume and another rise towards 1.4700 is still possible after consolidation, and a break above 1.4281 could signal resumption of uptrend.

For long term analysis, EURUSD is in uptrend from 1.1876. Further rise towards 1.4700 area is expected in next several weeks.

eurusd daily chart