Weekly Price Action Trading Outlook for January 21st to January 25th 2013
EURUSD – Euro/dollar uptrend intact, waiting for a buy signal
The EURUSD entered into a consolidation phase last week after hitting a high of 1.3403 last Monday. The uptrend in this market remains intact, and this week we are waiting for a pullback to support to buy into this uptrend on weakness. If the market rotates down into the 1.3250 – 1.3150 support / value zone we will keep our eyes peeled for a 4 hour or daily chart price action buy signal to trade back in-line with the uptrend.
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