The EUR/USD breached and fixed above the downward trend line and a strong resistance level of 1.3300, which held back the price rise for over two weeks.
- DirectionPeriodExpected price dynamicsPrice movement corridor↑↓1 day≈130 pipsMax. 1.3585Min. 1.3185
Since the bulls have crossed the major obstacles, the bulls can easily raise the price to the nearest resistance level at around 1.3395. This level will be reached on declining volume, which may result in a deep retest with a price reversal. If the level of 1.3395 does not hold back the rise, further move up will lead the pair to 1.3420, 1.3460.Alternative forecast
Should the pair return to the support level 1.3300, this will signal of a reversal in the bullish trend. The closest target for the fall is the support level of 1.3240 in the uptrend channel; breaching below this level will open the way down to a strong support level of 1.3185.
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