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    EUR/USD: higher time-frame charts support up-trend bias

       
    There are signs of a longer-term reversal: the monthly chart is showing a bullish two-bar reversal after a long down-trend, and although this month has seen a pause in the surge, it is expected to resume eventually.

    On the weekly chart there is a double-bottom reversal pattern – another bullish sign. The pair has already breached the neckline and moved higher, but it has not yet reached the minimum expectation for the pattern at 1.1450.

    Zooming in further to the 4-hour chart we can see that the pair has just recovered from a pull-back in an established v.short-term up-trend, all-in-all the technicals point to a bullish outlook.

    A break above the current highs at 1.1289, therefore, would probably lead to a move higher to the target at 1.1450.
    EURUSD06

       
    There are signs of a longer-term reversal: the monthly chart is showing a bullish two-bar reversal after a long down-trend, and although this month has seen a pause in the surge, it is expected to resume eventually.

    On the weekly chart there is a double-bottom reversal pattern – another bullish sign. The pair has already breached the neckline and moved higher, but it has not yet reached the minimum expectation for the pattern at 1.1450.

    Zooming in further to the 4-hour chart we can see that the pair has just recovered from a pull-back in an established v.short-term up-trend, all-in-all the technicals point to a bullish outlook.

    A break above the current highs at 1.1289, therefore, would probably lead to a move higher to the target at 1.1450.
    EURUSD06


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