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EUR/USD: short-term up-trend continuing; monthly R2 reached

   
The pair continues rising; it has just pierced formidable resistance at the R1 Monthly Pivot at 1.1355 and now appears to be pushing even higher.

Bullish peaks and troughs are now well-established and I expect to up-trend to continue.

Ideally I would like to see a clear break above the 1.1466 May 15 highs for confirmation of an extension higher. There is round-number target at 1.1500, but a move above 1.1520 would probably see a move higher to 1.1600.

The bond rout appears to be a major reason for the euro’s sudden appreciation as it has led to a rise in euro-zone sovereign debt yields.

EURUSD04c

   
The pair continues rising; it has just pierced formidable resistance at the R1 Monthly Pivot at 1.1355 and now appears to be pushing even higher.

Bullish peaks and troughs are now well-established and I expect to up-trend to continue.

Ideally I would like to see a clear break above the 1.1466 May 15 highs for confirmation of an extension higher. There is round-number target at 1.1500, but a move above 1.1520 would probably see a move higher to 1.1600.

The bond rout appears to be a major reason for the euro’s sudden appreciation as it has led to a rise in euro-zone sovereign debt yields.

EURUSD04c



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