Tuesday 7 January 2014

Technical Trend for EUR/USD and GBP/USD Today

• EUR/USD Trend.
The bias is bearish in the short term to test the 1.3550 area. Immediate resistance is seen at around 1.3675, break up of the area to bring the price of the neutral zone that leads in the short term to test the 1.3720 area. The main scenario for the trend should be valid, but a break below the bullish channel could be a signal the beginning of a correction scenario be bearish.

• GBP/USD Trend.
The bias is bearish in the short term to test the key support at 1.6340 area. Immediate resistance is seen at around 1.6450 area, break up of the area to bring the price of the neutral zone that leads in the short term to test the 1.6490 area or higher. The main outlook for the bullish should be valid however break down 1.6340 area could be a signal for the beginning of a bearish reversal scenario.

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