EURUSD Analysis – April 27, 2013

EURUSD is in uptrend from 1.2747, the fall from 1.3200 is treated as consolidation of the uptrend. Initial support is at 1.2900, as long as this level holds, the uptrend could be expected to resume, and another rise towards 1.3500 is still possible. Key support is at 1.2747, only break below this level could trigger another fall towards 1.2500.

For long term analysis, EURUSD is in uptrend from 1.2042 (Jul 24, 2012 low), another rise towards 1.4500 could be expected after consolidation.

eurusd daily chart