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04-17-2011, 09:02 AM
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Weekly Technical Strategist: EURUSD
EURUSD: Retains Its Long Term Uptrend Despite Setback.
EURUSD: Price hesitation saw the pair closing lower the past week, but it continues to hold on to its long term uptrend.As long as it continues to maintain within its established rising channel, we look for the pair to strengthen further towards the 1.4576 level, its Jan 2010 high and then the 1.4902 level. Its weekly RSI remains bullish and pointing higher supporting this view. Alternatively, support starts at the 1.4329 level, its channel support followed by the 1.4266/79 levels. We expect the latter zone to reverse roles as support if tested and then turn the pair higher. Other supports are located at the 1.4103 level followed by the 1.3852 level, its Mar 15’2011 low. All in all, EUR may be hesitating but holds on its overall bullish structure.
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Mohammed Isah Technical Strategist info@fxstrategy.com www.fxtechstrategy.com Note: This is an excerpt from The Professional Suite, our most popular service, a daily 7 currency model technical research package. Get More Information This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report. 
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