On the monthly chart, EURUSD is now near 2012 low and 2011 low has been rejected.
It is showing signs of bullishness, though the long term trend looks bearish since 2008.
Assuming the current movement as retracement, it is expected that EURUSD will be hitting 1.38 around mid 2013.
Today's move should not hit back on 1.25 and 1.30 is likely to be challenged by this month.
It is showing signs of bullishness, though the long term trend looks bearish since 2008.
Assuming the current movement as retracement, it is expected that EURUSD will be hitting 1.38 around mid 2013.
Today's move should not hit back on 1.25 and 1.30 is likely to be challenged by this month.