The EUR/USD spiked up today after news from Greek bailout talks suggested a deal might materialise soon. The pair is in a strong mini-up-trend and although it currently looks like it is in the process of pulling-back I believe it will continue higher.
Nevertheless confirmation would come from a move above the 1.1278 highs, which would then probably lead to a move up to a target at the R1 Monthly Pivot at 1.1355.
The 50-day MA is at 1.1160 so a correction back down could find support around that level, and perhaps lead to a rotation higher again.
The EUR/USD spiked up today after news from Greek bailout talks suggested a deal might materialise soon. The pair is in a strong mini-up-trend and although it currently looks like it is in the process of pulling-back I believe it will continue higher.
Nevertheless confirmation would come from a move above the 1.1278 highs, which would then probably lead to a move up to a target at the R1 Monthly Pivot at 1.1355.
The 50-day MA is at 1.1160 so a correction back down could find support around that level, and perhaps lead to a rotation higher again.