For the first time this year, the Euro has gained for 6 of the last 7 weeks. Another first since May of this year, the pair formed a strong breakout bar taking out the weekly 20ema. The latter will likely bring in new technical longs on the break and I only see minor resistance ahead up till the big figure at 1.3000.
Bulls can look for longs on pullbacks to former resistance at 1.2650, now support. More aggressive intraday players can look for price action setups around the 1.2751 area which was the June swing highs. Bears will have to wait for 1.3000 before considering shorts as momentum is on the side of the bulls.
Last Wednesday, I …