Looking at the EUR/USD, you can see that through peak and trough analysis that the trend is looking more and more bullish. However, 1.40 still remains in way of the bulls, and will be the bear’s last stand.
If we can find a weekly close above it – the trend will certainly get us to 1.45, 1.50 and beyond possibly. A weekly close below 1.38 would signal that the downward pressure could try and find support at 1.3450 or even the 1.28 mark.
