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7 Oct 2013
EURUSD - Uptrend intact but latest pullbacks raises some concerns - 2ndSkies
FXstreet.com (Barcelona) - After the EUR/USD tested a new 8-month high of 1.3645 on Thursday, the pullback that followed qas strong enough to raise a 'small amount of concern for bulls' notes Chris Capre, Founder at 2ndSkies.
As Capre notes, EUR/USD "is for now sitting on top of the 1.3550 key level; if this level holds, bulls can look for price action signals to get long here, or on a pullback towards 1.3460-ish. Upside levels are 1.3645 and 1.3700. For the downside, bears will need to close below 1.3450 to attract more sellers into the fore."
As Capre notes, EUR/USD "is for now sitting on top of the 1.3550 key level; if this level holds, bulls can look for price action signals to get long here, or on a pullback towards 1.3460-ish. Upside levels are 1.3645 and 1.3700. For the downside, bears will need to close below 1.3450 to attract more sellers into the fore."