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EUR/USD: trending up broadly in the short-term

   
Not much change here: as I said in the previous analysis the level around the R1 monthly pivot situated at 1.1355 has been touched four times and has successfully resisted on most of those occasions. It remains a vulnerable level, however, which if breached would signal a sea-change in the direction of the trend.

The pair has been in a mini-up-trend ever since bottoming at the end of May, and has revealed progressively higher lows as it has risen higher, providing a further bullish sign.

My recommendation still stands: a break above Wednesday’s 1.1385 highs would probably generate an up-swell with an initial target at the 1.1466 highs.
EURUSD12

   
Not much change here: as I said in the previous analysis the level around the R1 monthly pivot situated at 1.1355 has been touched four times and has successfully resisted on most of those occasions. It remains a vulnerable level, however, which if breached would signal a sea-change in the direction of the trend.

The pair has been in a mini-up-trend ever since bottoming at the end of May, and has revealed progressively higher lows as it has risen higher, providing a further bullish sign.

My recommendation still stands: a break above Wednesday’s 1.1385 highs would probably generate an up-swell with an initial target at the 1.1466 highs.
EURUSD12



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