EURUSD Analysis. Jan 26, 2008

No changed in our view, EURUSD is forming a symmetrical triangle pattern, and sideways consolidation in a range between 1.4309 and 1.4966 may be seen next week. Near term support is at the up trend line from 1.4309 to 1.4365, and key support is at 1.4309, only break below this level will signal the reversal to the up trend.

For long term analysis, the pair is in consolidation of the long term up trend. As long as 1.4309 long term key support holds, rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is in favor.

eurusd daily chart