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4 Feb 2013
Forex: EUR/USD on track to 1.3800 - TDS
With currently EUR/USD at fresh session lows 1.3624, TD Securities Toronto based FX Research Team believes that: “The sustained push through short term resistance at 1.3402 (bull flag neckline trigger) keeps EUR/USD on track for a move to 1.3800,” the analysts say, adding: “With short, medium and long-term trend momentum indicators still bullishly aligned, we think there is still quite a bit more to come in this move up."
“There are no signs from price action that the rally is getting stretched,” they continue, expanding: “Rather, another sharp push higher looks more likely as the markets moves to the upper half of the broader bull channel. Our near-term target is 1.3800/50. We spot support at 1.3400,” the Team concludes.
“There are no signs from price action that the rally is getting stretched,” they continue, expanding: “Rather, another sharp push higher looks more likely as the markets moves to the upper half of the broader bull channel. Our near-term target is 1.3800/50. We spot support at 1.3400,” the Team concludes.