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Last Updated Report: EURUSD Technical Outlook by: DENKMANN Investments
Published:
6 Mar 2007 19:06 GMT
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EURUSD Technical Outlook - 14 Nov 2006 11:07 GMT
by: DENKMANN Investments

EURUSD Technical Analysis Chart
The lower channel trendline mentioned in yesterday's report managed to support the pair above 1.28 during the last sessions, however there are technical signs suggesting that a break on the downside is more probable at this time, with targets at 1.2780 and - in case of a break here - 1.2751. We continue to support the bullish outlook in mid-term, however any sustained break of 1.2750 would complicate the charts and argue for a larger retracement wave targeting the mid 1.26 area. Daily charts continue to be moderately bullish at this time, hourly slightly bearish. If reached today, we are expecting the 1.2780 threshold to hold a first test. A new move up towards 1.2840 followed by a break through would be a first signal that the EUR is ready to make a new rally towards 1.29 and above.

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