EUR/USD: Surges To New Mid-Term Highs
Admirals | Dec 10, 2013 05:56AM ET
Monday showed us a continuation of the recent sentiment. The EUR/USD made new highs and proved its bullish inclinations. The fact that the price broke the channel up with an upswing on Friday is worth noticing. It shows that bulls are in full control of the situation. Even if we see a correction movement in the next few days, it will only be a profit-taking action, not the attempt to reverse the trend. The closest resistance is at 1.3780. The closest support is at 1.3735 and the upper line of the channel up, but breaking it should not cause any harm as the major support in the long-term is at 1.3650.
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