#FOREX: EUR/USD analysis into the coming week: Mon 28th Jan onward

Here is my EUR/USD H4 chart!

My target of 1.3450 has finally hit today after a very choppy manipulated week, we finally broke higher finding resistance at the upper channel line!

Monday I will be looking for a pullback...maybe to the 61.8% FIB level (1.3346) of thursdays low-today's high..
After hitting this support level I will be buying EUR/USD with 1.3540 as target no.1!

I will be careful as we are at big weekly resistance level (1.3462) 12th FEB 2011!!!

will have more updates into next week!
happy trading!!

Views: 723

Comment by Gjert Myrestrand on January 25, 2013 at 11:48pm

I hope you are right about the pullback. This bull must back up a little. It has moved too far too fast.

Comment by Gjert Myrestrand on January 26, 2013 at 1:01pm

I am leaving this to chance now. I have now idea about what we will see on Monday. I just have a hope that the upcoming FED rate meeting will put a cap on further rise in the EUR. Some tail risk in the eurozone has been lifted away somewhat, but there is not much light in the Eurozone economic outlook despite some positive indexes showing up. How about Greece, Spain, Italy, France....it looks bleak to say the least. In Norway, we have a saying that goes like this : "They are just putting make-up on the bride". But the bride will look bad without the make-up. I believe Europe is in for a long recession, and that EURUSD will suffer as a result. The UK has just released the worst GDP numbers since the great depression. Even though they are not part of the EURO-zone, they are part of the EU. The question is when the FX market will take this in...

Comment by Mian on January 26, 2013 at 1:08pm

brother iam short on Gu at 1.3270 and 1.3326 too ...... Wot u suggest for me ?

Comment by Shaun Powell on January 26, 2013 at 4:11pm


I will check fundamentals on monday!

I agree EUROPE is toast, they are just playing it out on the media etc, i wil expect eur/usd to hit 1.7 by november 2013.

I think we could go higher in the next coming months though! The so called 'elite' are heading for a one world currency as the economy needs balance, eventually back to the gold standard.

@ MIAN do u mean EUR/USD instead of GU?


Comment by Gjert Myrestrand on January 26, 2013 at 5:12pm

Did you write EURUSD at 1,70 this year? Or did you mean 1,07?


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