EURUSD Analysis. Jan 13, 2008

EURUSD is in up trend. Further rise above 1.4966 previous high may be expected next week, and a break above 1.4823 level is needed to confirm such case. Near term support is at 1.4638, only break below this level will indicate lengthier consolidation to the long term up trend. Key support is at 1.4309, as long as this support holds, we’d expected up trend to continue.

For long term analysis, the pair is in consolidation of the long term up trend. Rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is still in favor.

eurusd daily chart