EUR/USD Weekly Technical Report 21-25/1/2013

The pair is trading in intermediate levels between 1.3406 and 1.3257. Breaching the resistance level might offer a bullish continuation technical formation, while breaking 1.3257 levels might form a negative reversal technical formation. Momentum indicators are biased negatively but Linear Regression Indicators remains neutral. Despite that the general upside move is still valid, the risk/reward ratio is inappropriate, so we remain neutral for now  prefer to stay aside.

The trading range for this week is among the key support at 1.3105 and key resistance at 1.3685.

The general trend over short term basis is negative targeting 1.1865 as far as areas of  1.3550 remains intact.

Support 1.3310 1.3280 1.3250 1.3235 1.3170

Resistance 1.3405 1.3480 1.3505 1.3555 1.3590

Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move