© Dukascopy Bank SA
Despite the fact that the break-out from the triangle has already occurred, EUR/USD is still believed to carry remnants of the bullish momentum, meaning that the single European currency should continue on appreciating versus the U.S. Dollar.
The first target at 1.33 has been already attained recently, but we also consider 1.3345 to be a likely trading level in the future. This idea is strongly supported by the technical studies on all relevant time-frames. Further advancement will be hampered by daily R2 and R3 at 1.3369 and 1.3415 respectively.
© Dukascopy Bank SA