EURUSD has formed a cycle bottom at 1.2998 on daily chart, and the rise from 1.2998 is likely resumption of the uptrend from 1.2661. The uptrend could be expected to continue next week, and next target would be at 1.3500-1.3600 area. Support is at the upward trend line, only a clear break below the trend line could signal completion of the uptrend.
For long term analysis, EURUSD had formed a cycle bottom at 1.2042 on weekly chart. Further rise towards 1.4000 could be expected over the next several months.
