Forex4you Technical Analysis 21 April 2011

EUR/USD: Technical Analysis

The EUR/USD pair is in a steady uptrend and it will probably continue rising. The count on the chart below is 1.5285 but there is resistance at 1.4850 and heavier resistance at 1.5100 so these are probably more realistic targets. The counts on the larger 3 x 0.005 box chart have already been met so the more muted outlook longer term puts a slight break on excessively bullish expectations.

http://forex4you.ninjacdn.net/charts/EURUSD210411.png

Analysis by: Joaquin Monfort
Forex4you analyst

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