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Pull-back in up-trend

Pull-back in up-trend | 28 October 2013

28 October 2013, EUR/USD

EUR/USD keeps pushing higher. It has pulled back slightly and may fall to 1.3750, but it will probably resume its short-term up-trend and make new highs eventually. There is formidable resistance at 1.3860 which could prevent more upside, especially in the near-term. The current active count targets 1.3880, but a break higher might signal a move up to somewhere around 1.3940 which is the width of the consolidation, or even the upper target from the larger 25-point chart at 1.4125.

Pull-back in up-trend

Mark Satcher
Analyst of «FreshForex» company
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