EUR/USD Forecast January 18, 2013, Technical Analysis

EUR/USD pair had a strong showing on Thursday as we bounced from the 1.33 handle and closed near the recent highs at 1.34. In fact, it appears that we are dead set on testing that level again and perhaps pressing to the 1.35 level in the short-term. If we managed to get to 1.35 and break above it, this suddenly becomes a long-term buy-and-hold type of proposition. On the other hand, if we managed to break down below the 1.3250 level, we would suspect that this pair is going to break down a little bit. Nonetheless, it appears that bullishness prevails in this market and 1.35 is much more likely than 1.32 at this point.

Credit : FX Empire Analyst - Christopher Lewis