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EUR/USD: up-trend probably resuming

   
The pair has been in a mini-up-trend ever since bottoming at the end of May.

It then rallied up and made highs of 1.1379 on the 4th of June, before pulling-back in an a-b-c correction down.

Yesterday it rotated and moved higher again after the a-b-c completed, rising up again over the last 24 hours on the back of very strong growth data from Spain – we are now back near the 1.13s and the R1 Monthly Pivot.

The very short-term up-trend will probably extend higher. Ideally I would like to see a break above 1.1379 for confirmation of more upside, which would generate a target at 1.1466.

EURUSD09

   
The pair has been in a mini-up-trend ever since bottoming at the end of May.

It then rallied up and made highs of 1.1379 on the 4th of June, before pulling-back in an a-b-c correction down.

Yesterday it rotated and moved higher again after the a-b-c completed, rising up again over the last 24 hours on the back of very strong growth data from Spain – we are now back near the 1.13s and the R1 Monthly Pivot.

The very short-term up-trend will probably extend higher. Ideally I would like to see a break above 1.1379 for confirmation of more upside, which would generate a target at 1.1466.

EURUSD09



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