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EUR/USD: pulling-back in mini-up-trend

   
The EUR/USD pair started pulling-back this morning after rising up to a new high of 1.1466.

The v.short-term up-trend is still intact and likely to extend higher once the correction finishes. The next major target higher is the R1 monthly pivot at 1.1485.

The pull-back has found support at an old trend-line and its possible it might start to rotate at that level, especially as on the hourly chart a hammer candlestick has formed which suggests a resumption of the up-trend, although there is no clear entry point yet.

EURUSD18

   
The EUR/USD pair started pulling-back this morning after rising up to a new high of 1.1466.

The v.short-term up-trend is still intact and likely to extend higher once the correction finishes. The next major target higher is the R1 monthly pivot at 1.1485.

The pull-back has found support at an old trend-line and its possible it might start to rotate at that level, especially as on the hourly chart a hammer candlestick has formed which suggests a resumption of the up-trend, although there is no clear entry point yet.

EURUSD18



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