The EUR/USD pair bounced at the open on Thursday, as we used the uptrend line from the longer-term ascending triangle as support, and it looks as if we are going to stay within that triangle. Because of this, we believe that the market does go higher but it is going to be more or less a grind higher, as opposed to a massive move to the upside in short order. Ultimately, as long as we stay above the uptrend line, we should go higher given enough time. On the other hand, a break down below the uptrend line has us selling and aiming for the 1.08 level.
