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10.02.201216:29 Forex Analysis & Reviews: EUR/USD Intraday Technical analysis

Long-term review

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The spot rate is currently testing the upper limit of its medium term bullish channel in 1.3320 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend more violent.

RSI provide buyers signals supporting the assumptions of a break of its resistance. Bollinger bands are much discarded to a result of the strong increase of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3320 with a 1st objective of 1.3380, then 1.3400. A break in 1.3300 would invalidate this scenario.

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