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Pulling-back in up-trend

Pulling-back in up-trend | 11 December 2013

11 December 2013, EUR/USD

EUR/USD has pulled-back from the 1.3790 highs. It has reached support at 1.3745 from the 45° trend-line. There is a possibility it could reverse at the current level and resume moving higher. The count from the 5th December lows consists of a long column of 24 boxes and targets 1.3935, and this is the next target for the pair. A break above the recent highs at 1.3790 would help provide confirmation of further upside.

Pulling-back in up-trend

Mark Satcher
Analyst of «FreshForex» company
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