EURUSD breaks key resistance level

A close above 1.3818 triggers a bullish long-term trend reversal on a weekly basis for euro/dollar, according to George Davis at RBC Capital Markets. This level comes from the trendline that dates back to the high of around 1.60 reached in 2008, with EURUSD being in a long-term downtrend since then. Davis says a close below 1.3259 is needed to give an unambiguously bearish signal.