EUR/USD Forecast January 28, 2013, Technical Analysis

The EUR/USD pair had a strong session on Friday, and even threatened to break above the 1.35 handle. In the end it did not however, and as a result that barrier still stands. However, it does look increasingly likely that the 1.35 level will be broken, and this would in turn show a breaking of the neckline from an inverted head and shoulders that could see this pair going as high as 1.50 over the longer term. We obviously can’t sell this pair right now, as it is far too bullish. With that being said, pullback should be a buying opportunity, and obviously a daily close above 1.35 would have us not only bullish this market, but willing to hang onto the trade for ages as well.

 

EUR/USD Forecast January 28, 2013, Technical Analysis

Written by FX Empire