EURUSD may be forming a cycle top at 1.3861 level on daily chart. Pullback to 1.3100-1.3200 area would likely be seen in a couple of weeks. However, the fall from 1.3861 is treated as correction of uptrend from 1.2874, one more rise towards 1.4500 is still possible after correction.
For long term analysis, EURUSD had formed a cycle bottom at 1.2874 level on weekly chart. Another rise towards 1.4500-1.5000 area could be expected in next several months.
