The plan continues for the EURUSD (complete analysis)

Written by Raul Lopez on December 17, 2012. Posted in Trades & Analysis

Last Thursday I posted my analysis on the EURUSD, I was waiting either for a breakout or a rejection of the short term resistance level.

If you were watching the market, you already know the EURUSD broke through that resistance level, so long opportunities are still in play.

How do I know this?

Take a look at these charts. First the long term chart:

EURUSD

It’s likely to reach the next LT resistance level which is at 1.3382

Ok, now the short term chart:

EURUSD

As long as it continues to trade above 1.3120 (upper green level) it’s safe to look for long opportunities.

Do you agree with me?

Let me know.

Tags: breakout, EURUSD Analysis, forex

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Raul Lopez

I've been trading the forex market for more than 11 years. All my trades are based on price action. Check out my Forex Coaching program, I can help you develop a system that helps you trade consistently.

gracien

Dear Raul,
I witnessed other pairs breaking out from the upside on Friday and the EURUSD was almost getting involved I quickly remembered our discussion but it retraced. I agree that the breakout is almost at hand from the upside.

Orah Tony
- Raul Lopez
  
  Yeo me too… I still think there is more upside room for the EURUSD… We’ll see what happens.
  
  Good luck!

Raul Lopez

Trading should be simple