Forex4you Technical Analysis 1st Feb 2011

Feb. 01, 2011 7:14 AM ET
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EUR/USD: Technical Analysis

The "bullish" trend became dominating and the price rose to 1.3700. It's currently making attempts to hold at these levels. Such turn of events has been mentioned previously as a signal to the "bullish" trend, so there reasons to expect growth to targets above resistance level 1.3780/1.3800. Indicators are turning up, suggesting that that the "bulls" will eventually succeed. Growth to 1.3900/1.3990 is quite a possibility, although it's worth taking into account the strength of resistance at level 1.3800/1.3780.

Analysis by: written by Forex4you analyst

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