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    EUR/USD: mini-up-trend pushing higher

       
    EUR/USD may push higher as traders speculate on the ECB possibly curtailing their bond-buying in light of the current rout in fixed income, and conversely suspect the Fed of delaying their tightening schedule in light of poor data.

    However, fundamentals aside, the technical picture shows the pair steadily pushing higher again, breaking above another peak at 1.1391 yesterday, maintaining it’s mountain-top progress higher, (at least on the 4-hour chart), with the next target is at the R1 monthly pivot situated at 1.1485.

    I’m already in a trade which opened after the break above the 1.1391 peak, with a target at R1. Those not already in a trade could ‘gate-crash’ now; the pair appears to be forming a mini-triangle on the 15min chart, which could offer a breakout opportunity higher, but I don’t generally trade on those low time-frames so I’ll leave it up to your discretion. On balance however, the odds slightly favour more upside.
    EURUSD14

       
    EUR/USD may push higher as traders speculate on the ECB possibly curtailing their bond-buying in light of the current rout in fixed income, and conversely suspect the Fed of delaying their tightening schedule in light of poor data.

    However, fundamentals aside, the technical picture shows the pair steadily pushing higher again, breaking above another peak at 1.1391 yesterday, maintaining it’s mountain-top progress higher, (at least on the 4-hour chart), with the next target is at the R1 monthly pivot situated at 1.1485.

    I’m already in a trade which opened after the break above the 1.1391 peak, with a target at R1. Those not already in a trade could ‘gate-crash’ now; the pair appears to be forming a mini-triangle on the 15min chart, which could offer a breakout opportunity higher, but I don’t generally trade on those low time-frames so I’ll leave it up to your discretion. On balance however, the odds slightly favour more upside.
    EURUSD14


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