Bullish breakout | 18 Oktober 2013

18 Oktober 2013, EUR/USD

The EUR/USD pair has broken higher, resuming its short-term up-trend. It has met the up-count target at 1.3685 and may consolidate before going higher. There could be a pull-back to the 1.3640s where the previous high is situated. The short-term up-trend would be expected to resume eventually, however, taking us up to major trend-line resistance at 1.3950. A longer-term up-target calculated from the 0.0025 box chart is at 1.4125. A break above 1.3695 would help add confirmation to the bullish forecast.
Bullish breakout
Mark Satcher
Analyst of «FreshForex» company
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