FX.co ★ EUR/USD Technical Correction, September 13, 2011 (Weekly Strategy)

EUR/USD

The analysis of long-term (weekly chart) euro-dollar pair shows that the last upward wave euro-dollar trend began in June 2010 and is still ongoing as long as the pair is trading above the level of support Finally, about $ 1.3200 per euro.

Given that markets are now unlikely to exist not agitated when the dust settles to make ends meet. However, chances are you have a break until the weekly pivot level 1.3840, then resume their downward trend in short term. We expect that the price reaches down to the level of important test of 1.3222, in order to locate positions of long-term purchase and return to the upward trend with target price of 1.3830 and $ 1.4464 per euro in the long term.