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Monday, May 27, 2013

EUR/USD Weekly

EUR/USD Analysis - 27 May 2013

EUR/USD Weekly



The pair is holding inside the 1.2534-1.4821 range and has completed a upside correction for the 1.3564-1.2788 descendent wave while holding below both its moving averges.

Further upside is expected and on the Daily
timeframe we have a uptrend channel.

Hold buy positions with a target of 1.3545 and a stop loss at 1.2439.

This setup provides a risk/reward of 395/720.

EUR/USD Daily

The pair is holding inside its uptrend channel where it was recently rejected at its support and is located below both its MAs.

A rejection has also taken place above the channel’s ascendent support.

Hold long positions with a target of 1.3091 and a secondary target of 1.3342 while the channel holds.

Stop loss remains at 1.2702.

This setup provides a total risk/reward of 131/515.

Goldenschild Asset Management
http://www.goldenschild.com

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