EURUSD is now testing resistance at 1.3625/30 & is just sitting above the upward sloping trend line at 1.3590 today. This is the last hurdle & a close above 1.3630 today is positive for next week. We can then target 1.3649, 1.3685/90 & 1.3715/20.
We should eventually retest October highs at 1.3830. Below 1.3605 is less positive & risks a slide to 1.3580/70. This could hold the downside but longs need stops below 1.3550.
Weekly outlook: 1.3625/30 should determine direction in to the end of the week. Failure to break & close above can target 1.3425/15 next week. However above 1.3625/30 can take us to 1.3715/20 & may be as far as October highs at 1.3830.