EUR/USD Technical Analysis - 11/14/2013

The pair EUR/USD found support yesterday on 1.34 and then rebounded to validate a breakout of 1.3450 (buy signal).
On its last rally, the price almost reached 1.35 in extension and the lower band of its previous medium term bullish channel (pink lines).
The EUR / USD is now moving into a short term bullish channel (new blue segments on the 1H chart).
A correction to 1.3450 has been recorded this night and the price is now moving to resume its bullish movement.

I still advise traders to trade the EUR/USD pair outside the range 1.34 / 1.3450 :

- Stay flat (no position) between 1.34 and 1.3450 .

- Trade only Long positions (buy) above 1.3450 .
A break of 1.35 will offer a new buy signal for an extension of the rebound towards 1.3550.
Towards 1.35, pay attention to the lower band (now resistance) of the previous medium term bullish channel (pink lines) .

- Trade only Shorts positions (sell) below 1.34.
A break of 1.3350 will offer a new sell signal for a return on 1.33.
Below 1.34, pay attention to the bearish slant (now support) or lines of the former short-term bearish channel ( black lines) which could allow a new rebound.