Forex4you Technical Analysis 21 January 2013

EUR/USD: possible price pattern

The trend remains bullish overall but there may now be a double top forming at the highs, which is a bearish sign. Momentum on the current bear move however is weakening and a break above 1.3331 could probably signal a new move back up to the range highs at 1.3400. A break below the 1.3255 lows on the other hand would confirm the double top had breached its neckline and give a downside target of 1.3110.

Analysis by: Joaquin Monfort
Forex4you analyst

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