EUR/USD Weekly Outlook
Trend Recognition | Oct 14, 2013 02:58AM ET
EUR/USD: 1.3538
Short-Term Trend: Uptrend
Outlook: An EUR pulled back towards the 21-day moving average (the red line on the chart) last week and bounced from it. That keeps the Short-Term uptrend strong and further gains toward 1.3720, and eventually toward 1.4045, are expected. The daily oscillators are mostly neutral at this stage, but during a strong uptrend that only supports the bullish case.
On the downside, only below last week's low at 1.3486 will negate and will risk a larger pullback toward 1.3410.
Strategy: Holding long from 1.3350 is favored. Stop=1.3460. Target=1.3950.
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