FX.co ★ EUR/USD Monthly Forecast for February 2011

MONTHLY OUTLOOK :

It seems that this pair wants to re-test the Triangle Resistance for the fifth time. As long as the 1.3757 level can be broken by this pair, there will be a change in the character of this pair to Bullish at least until November 2010. On the Bar Monthly calender 1.4281 will be the first target before it hits the Triangle Resistance. However if the EUR/USD can break out and close below 1.3545, this will cause this pair to go down to 1.3416 as the first target and 1.3313 as the second target.