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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 - 27 Feb 2007 19:50 GMT
by: DENKMANN Investments

Ever since it left the 1.2900-1.3050 range trading zone, EURUSD has embarked on a steady and powerful trend up, reaching as high as 1.3256 in U.S. trading today. Daily falling trendline was broken around 1.3150, and the road looks clear ahead for the EUR bulls. The upper BB on daily may provide some temporary resistance for the pair in the 1.3260 area, however it is obvious that EUR is far from having finished its rally. 1.3220 comes in as primary support level, followed by 1.3190. An eventual descent towards 1.32 will probably bring the bulls back into the market, for a new wave targeting the upper 1.32 area.

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