EURUSD: The pair closed higher for a second week in a row since halting its recent declines. However, it will have to set a foothold above the 1.3288 level to convince the market of further recovery. If this is confirmed, further upside offensive could develop towards the 1.3483 level. A breach will pave the way for move further higher towards its Dec 02’2011 high at 1.3547 where a violation will target its weekly 200 ema at 1.3642. Conversely, the risk to this analysis will be a return to the 1.3003 level traded the past week followed by the 1.2975 level. An eventual break if seen will push the pair further lower ... (full story)