EURUSD Bottoming on Weekly Chart

9 Okt 2014

The EURUSD is looking very bullish now on the weekly as its RSI and Stochastics are turning up following oversold levels, while the MACD blue line is finally flattening. The first key upside target appears to be near 130, a psychologically important resistance level, which happens to coincide near the 5 month downchannel resistance. Longer term, I`m still bearish as the monthly charts point lower, to possibly a retest of the July 2012 low.
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