EUR-USD Technical Analysis, 2 February 2012

As discussed on the last post EUR-USD Technical Analysis 21 Jan 2012, the fiber should be bullish (intermediate) for the entire remaining week of January. Despite of showing weaknesses after reaching resistant 1.3228 level there is still possibility it could go higher to 1.3332 level. However that would be depending on huge luck if anyone dare to enter buy position at this point :). The long-term bearish trend is still long way to go and the fuel to burn is still a lot more. Based on the chart we can foresee that it will be going down for many months to come. We wait and see.