Trendline Support: The previous 1/7/2013 EUR/USD update noted respect of 1.30 and a rising trendline. The market kind of hung around 1.3050 just ahead of the ECB monetary meeting. But even before the meeting, the market rallied to 1.31 where it hung around a bit. Then after the policy statement was released, the EUR/USD rallied higher, and extended this rally during Mario Draghi’s media conference. Previous consolidation: This rally is very sharp, and is pushing above the support of the previous consolidation area. The 4H RSI busted through 60, showing loss of the nascent bearish momentum that started the year... (full story)