EURUSD Analysis – August 22, 2009

EURUSD stays in the rising price channel on daily chart and remains in uptrend from 1.3748. Further rally to 1.4500 is still possible next week. However, the rise from 1.3748 is more likely a part of consolidation from 1.4338, another fall towards 1.3800 zone to complete the consolidation is expected.

For long term analysis, EURUSD remains in long term uptrend from 1.2456, further rise to 1.5000 zone is expected in next several weeks.

eurusd daily chart