compleatguru

EURUSD Monthly Analysis

Long
FX:EURUSD   Euro / U.S. Dollar
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3
On the monthly chart, EURUSD is now near 2012 low and 2011 low has been rejected.
It is showing signs of bullishness, though the long term trend looks bearish since 2008.
Assuming the current movement as retracement, it is expected that EURUSD will be hitting 1.38 around mid 2013.

Today's move should not hit back on 1.25 and 1.30 is likely to be challenged by this month.

Comments

Agreed.
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Also note Monthly RSI. Historically, breaks above 50 have resulted in 1K -2k rallies. RSI is heading here now. A break and hold above 50 adds conviction to this idea, exposing the top of the long-term channel around 1.40.
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Agreed.
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