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Nearing resistance

Nearing resistance | 18 November 2013

18 November 2013, EUR/USD

The EUR/USD pair is in a short-term up-trend. It is above the 45° trend line both on the 5 pip and the 25 pip charts. It will probably continue climbing. The count from the recent 1.3295 lows generates an up-target of 1.3685 and there is a possibility this will be reached eventually. There is tough resistance at 1.3525, however, which could slow down the rise higher. Any pull-backs would be expected to fall back down to 1.3450. A break above 1.3550 would signal a more significant reversal of trend.
Nearing resistance
Mark Satcher
Analyst of «FreshForex» company
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