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    EUR/USD: spike higher set to extend

       
    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.
    EURUSD10

       
    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.
    EURUSD10


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