EUR USD between two formations 13/02/2013

The pair managed to confirm breaching above 1.3425, to activate the positive effect for the inverted head and shoulders pattern which appears in the minor image, this level has targets that surpass 1.3500, but on the other hand, the price is still below 1.3485, which might be a signal that the current rising might crash with this level to retest it, where it represents a previously broken neckline for a treble top pattern in the main image.

Therefore, we need to stay aside now, in order to monitor the price behavior according to the critical levels which represented by 1.3485 resistance and 1.3375 support, as breaching above the mentioned resistance will complete the positive pattern targets and bring the price back to the upside track, while breaking below 1.3375 will invalidate the pattern effect.

Expected trading range for today is between: 1.3330 support and 1.3570 resistance.

Expected trend for today: Neutral