By:TrendRecognition.com
EUR/USD: 1.3222
Very Short-Term Trend: uptrend
Outlook: EURUSD has risen above 1.3200 level and thus it appears now that a base has been built below that level. And that shifts the hourly trend on the upside. The larger degree picture though is still not very clear and actually as long as the 1.3280 resistance holds, the daily chart is more negative than neutral.
Traders are bit skeptical about the current uptrend on the hourly chart. But as long as the prices stay above 1.3180/70, the trend is higher and should be respected. And a move above 1.3280 will definitely strengthen the bullish case here and will suggest gains towards 1.3520.
On the downside, below 1.3180/70 will make the last move up a false breakout and will instead suggest losses towards the most recent low at 1.3055...
Strategy: Stand aside.