The EUR/USD pair shot through the 1.35 level finally on Wednesday. This is a significant breakout, in the fact that the market is closing so high suggests that we are just now starting to form the next leg up in this pair. Of interest is the fact that we have just broken the neckline of the massive inverted head and shoulders that we’ve been talking about. Remember, this head and shoulders suggests that we will see a 15 handle move from here. That makes a target of 1.50 over the long run. On pullbacks, we continue to buy this pair.
Written by FX Empire