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by ForexNewsNow Team on December 31st, 2010

EUR/USD forex technical analysis round-up: Dec. 31

NEW YORK (Forex News Now) – The euro rose against the greenback today, trading at 1.3364 as of around 8:00 A.M., GMT.

The euro is up 0.58% on the day and has reached a session high of 1.3386 with a low of 1.3286 so far.

This is what a couple of the analysts say about the heavily traded currency pair in the near-term:

Investija.com writes that EUR/USD bulls managed to climb over resistance barrier at 1.3270,

“According to the last day of new years eve, it is better to wait and concentrate on next year’s movements. Today, erratic slides are expected, waiting action is better option for now. However, while candles stay above resistance, short term buying opportunities remain active,” it adds in intraday analysis.

Forexcycle notes in its EUR/USD analysis that the currency pair broke above 1.3274 resistance.

“Now the price action from 1.2969 is more likely a sideways movement. Range trading between 1.2969 and 1.3497 could be seen in next several days. The sideways movement is treated as consolidation of longer term downtrend from 1.4281 (Nov 4 high), as long as 1.3497 key resistance holds, one more fall towards 1.2500 is still possible,” the realtime forex news site adds.

By ForexNewsNow Team

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