EUR/USD – 14/1

EUR/USD at 1.3350 is on a bullish mode on the daily chart. It touched 1.34 today for a new 10-month high.

The pair broke the neckline of the inverse head and shoulders formation of the last four months at 1.3150, giving a target of 1.36. Before that, resistance can be found at the February 2012 high of 1.3484 and at 1.3500.

Pullbacks at the 1.3250/1.3300 region should be bought-in with an appropriate stop loss.

EUR/USD will turn negative on a fall below 1.3150.

Petros