Technical Trading Tips and Techniques by 
Price action on EUR/USD (a daily chart of which is shown) as of Friday (4/08/2011) has risen dramatically to approach its 1.4500 upside resistance target, establishing a new 14-month high in the process. This occurs within the context of a strong and steep bullish trend that has been in place since the beginning of the year, and confirms an uptrend continuation. For more technical analysis on this currency pair, please click here for Friday’s (4/08/2011) Chart of the Day.
James Chen, CTA, CMT
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Hi,good chart.it will be tests and retests next week between 1.4470 and 1.4580 as it reaches 161.8 on inverse Fibonacci.if it crosses 1.4846 (200 fibo) is next likely target.trend is bullish unless reverses.However should be a choppy week.
At the moment, the atmosphere is increasing and greed is all that is given to move, we expect that greed round of fear, sending the euro down and create a great opportunity to profit low-risk.