EUR/USD Weekly Technical Report 22-26/7/2013
ecPulse
2013-07-22 07:20AM UTC
The pair managed last week to stabilize above 1.3070 followed by stability above Linear Regression Indicators. These catalysts forces us to think that the upside move might extend this week as long as the pair stabilizes above 1.3030. Breaching 1.3170 is significant to support the positive outlook of trading stably above the ascending trend line that was formed from the bottom 1.2039.
Note : During this week, a breakout above 1.3170 might change the overall trend over short term basis to the upside
The trading range for this week is among the key support at 1.2880 and key resistance at 1.3400.
The general trend over short term basis is to the downside targeting 1.2675 as far as areas of 1.3170 remains intact.
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