EUR/USD is now well-positioned for further gains and may advance up to 1.3625/30. The following target will be located at 1.3840/1.3900. Dips should be limited by supports at 1.3135 and 1.3048.

The EURUSD had another indecisive movement yesterday. Price attempted to push higher topped at 1.3320 but the bullish momentum was disappointing and now retesting 1.3240/50 support area. I still prefer a bullish scenario at this phase with buy on dips intraday strategy still testing 1.3375 as the nearest bullish target but a clear break below 1.3200 – 1.3150 would activate my wait and see mode

The pair holds positive tone off 1.3025 higher platform, after break above 1.3232 tested levels above 1.3300 barrier. Near-term price action, however, remains in sideways mode, as 90 day SMA continues to cap at 1.3320. Failure to clear this level, may see initial test of strong support at 1.3230/20, previous high / near-term range floor and 1.3208, Fib 38.2% of 1.3025/1.3319 upleg, with break here to delay immediate bulls in favor of stronger reversal, while only loss of key near-term support at 1.3025 would sideline bulls. On the upside, lift above 1.3320 to resume short-term uptrend and open 1.3400 and 1.3425, Fibonacci 50% of 1.4246/1.2622 descend.

The pair couldn't hit SMA 100 and started to show a slight bearish tendency as seen on the provided daily graph. Meanwhile, trading continued above the pivotal support of 1.3230 and also above SMA 50. The bearish picture will not come back into focus unless we witness a daily closing below the aforesaid level. The contrarian between the above mentioned factors forces us to stay aside over intraday basis until an actionable setup presents itself to pinpoint the upcoming big move.

EUR/USD Today's support: - 1.3230, 1.3206, 1.3179 and 1.3148(main), where correction is possible. Break would give 1.3115, where correction also may be. Then follows 1.3084. Break of the latter would result in 1.3050. If a strong impulse, we would see 1.3038. Continuation will give 1.3002 and 1.2974.

The EURO closed higher on Thursday as it extends Tuesday's rally above the 38% retracement level of the OctoberJanuary decline crossing. The highrange close sets the stage for a steady opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off January's low, the 50% retracement level of the OctoberJanuary decline crossing is the next upside target.

Presumably, the the Double Zigzag [b] of 5 is close to completion . If this assumption is correct, after its completion we can expect a downward price movement in line with the the impulse or Diagonal Triangle formation [c] of 5.

On Wednesday Dollar/Yen traded within 50 pip range. The currency couple depreciated from 77.19 to 76.70 yesterday, matching the negative Interbank sentiment at bellow -3%, closing the day at 77.02. This morning the Dollar strengthened against the Yen, climbing to 77.24. On the 1 hour chart new upward channel is emerging, while on the 3 hour chart quotes returned to the wider trading range. Break above today's top and nearest resistance 77.24 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.70, and consistent break bellow it could strengthen the Yen further down towards next target 75.82. Today is Japan Corporate goods price index at 23:50 GMT. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.

Yesterday's minor corrective pattern below 1.3288 has been finalized at 1.3215 low and the uptrend is renewed, heading towards 1.3360, en route to 1.3465. Initial minor support is projected at 1.3267, followed by the crucial low at 1.3215.

Most of the indicators suggest continuation of the bullish trend until EUR/USD reaches 1.3436 with potential of climbing as high as 1.3627. However, we cannot rule out a dip down to an initial support at 1.3108, since the pair is currently struggling at a 1.3250/80 resistance zone.

Maintains near-term positive tone, breaking briefly above 1.3300 barrier, after yesterday’s 1.3287/14 consolidation. The price approaches 90 day SMA, currently at 1.3320, break of which to signal a resumption of short-term uptrend and focus 1.3429, Fibonacci level. Overbought near-term studies, however, suggest corrective action may precede fresh bulls. Initial supports lie at 1.3232 and 1.3214, yesterday’s range floor, while loss of 1.3200 handle, also 20 day SMA, would delay.

The EURUSD was indecisive yesterday, made a Doji on daily chart. Price attempted to push lower, slipped below 1.3240/50 support area but further bearish pressure was rejected and hit 1.3311 earlier today. There are no changes in my technical outlook. The bias remains bullish in nearest term still testing 1.3375. Immediate support remains around 1.3240/50. A clear break below that area could lead price to neutral zone in nearest term but any downside pullback now is normal and as long as stays above 1.3150 my overall intraday bias remains strongly to the upside and I still prefer to buy on dips.

The pair has achieved one more daily closing above the initial resistance of 1.3225-1.3230 suggesting that the bullishness will continue over intraday basis. SMA 100 becomes a technical objective followed by the next key resistance around 1.3415 zones. Stochastic also remains positive reinforcing our constructive outlook. Only a break below 1.3125 will give us a reason for concern.

EUR: Euro is currently trading at 1.3253 levels. Euro is trading firm even though Greek political leaders yet again failed to sign off on a tough reform and austerity programme to secure the most vital new international bailout, but Prime Minister Lucas Pademos has said that they would try to strike a deal very soon. Investors are still positive that somehow Greece will avert default and will strike a deal with its private Investors. Looking ahead Euro key interest rates at today's monetary policy decision is expected to stay unchanged. Support is seen at 1.3141 levels (55 days daily EMA) and resistance is seen at 1.3319 levels (100 days daily EMA). EUR/INR is at 65.44 levels. EUR/INR is like to trade in the range of 65.00 and 65.60 levels for the week. Short Term Bullish Medium Term Bearish. Break of 1.33 on a closing basis would turn the outlook quite bullish otherwise still in range of 1.26-1.33.

The EURO closed higher on Wednesday as it extends Tuesday's rally above the 38% retracement level of the OctoberJanuary decline crossing. The midrange close sets the stage for a steady opening on Thursday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off January's low, the 50% retracement level of the OctoberJanuary decline crossing is the next upside target.

EUR/USD Today's support: - 1.3179 and 1.3148(main), where correction is possible. Break would give 1.3115, where correction also may be. Then follows 1.3084. Break of the latter would result in 1.3050. If a strong impulse, we would see 1.3038. Continuation will give 1.3002 and 1.2974.

The wave counting doesn't rule out, that the impulse (c) of [b] is completed. If this assumption is correct, we can expect a downward price movement in line with the impulse or the Diagonal Triangle formation [c] of 5.

On Tuesday Dollar/Yen increased with 45 pips. The currency couple appreciated from 76.51 to 76.96 yesterday, not matching the negative Interbank sentiment at bellow -5%, closing the day at 76.75. This morning the Dollar strengthened further against the Yen,climbing to 77.18. On the 1 hour chart new upward channel is emerging, while on the 3 hour chart quotes returned to the wider trading range. Break above today's top and nearest resistance 77.18 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.51, and consistent break bellow it could strengthen the Yen further down towards next target 75.65. Today are Japan Machinery orders at 23:50 GMT. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.

The recent break above 1.3230 confirms, that the consolidation pattern above 1.3030 is already over and the overall uptrend is renewed, towards 1.3540 major resistance. The intraday bias is positive as well, supported at 1.3210-30, heading towards 1.3360 mark. Crucial on the lower frames is 1.3160, followed by the major one at 1.3030.

At the moment EUR/USD is far from a support at 1.2995 a close below which would imply emerging bearish momentum. Thus the pair is expected to rally further. The initial target above 1.3280 is 1.3464.