EUR\/USD is in a an uptrend, after bottoming at 1.2870 (January 9, 2011). Technical indicators are ascending and trading is situated above the 50- and 200-Day SMA, currently projected at 1.3917 and 1.3440.
Yesterday's rise filled my target at 1.4860 and with current high at 1.4882 the pair has entered a larger consolidation pattern, aiming to correct 1.4631-4882 uptrend. The intraday bias is negative for 1.4797, en route to 1.4760 before final rise for 1.4960.
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