EUR/USD Weekly Technical Report 4-8/1/2013
ecPulse
2013-02-04 08:43AM UTC
The pair slightly dropped after the sharp movements to the upside last week, reducing the overbought signals on momentum indicators. The pair is trading above Linear Regression Indicator 34 and 55, also above a previous top at 1.3485 levels. Therefore, trading above those levels will extend the overall upside move.
The trading range for this week is among the key support at 1.3405 and key resistance at 1.3990.
The general trend over short term basis is to the upside targeting 1.3990 as far as areas of 1.3550 remains intact.
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