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.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
