EUR/USD Starts the New Year with a Bang Toward 1.33

Posted by on Jan 2, 2013

EUR/USD 4H Chart 1/1/2012 10:15PM EST Consolidation: EUR/USD is still within its recent consolidation range between roughly 1.3306 and 1.3156 . However, price action to start 2013 shows another attack at the 1.33 resistance area. The 4H RSI has remained above 40 showing maintenance of bullish momentum in this time-frame. A push back to 70 should reflect bullish continuation, which should also see price above 1.3310 . As noted in previous EUR/USD updates, the bullish scenario keeps the
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