EUR/USD continues to exhibit a bullish dailystructure following its peak last Friday at 1.3893,just shy of a multi-month falling trend line. Weanticipate a further swing higher to retest the1.3900 region, with scope then for a push overlong-term trendline resistance off 1.6038(15/07/2008). Failure to be contained near the1.3900 region will next open up a return towards1.4247 (27/10/2011 high).
Overbought conditions and other nearbyresistances such as the psychological thresholdat 1.4000, may help to contain the upside longerterm.
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MIG Bank