EUR/USD to head higher following pullback
EUR/USD regained some ground overnight, within a pullback that has been in play since Monday’s top. Given the consistent creation of higher highs and higher lows since bottoming out in late February, it looks as if this short-term weakness would provide another leg higher for the pair.
Currently, the 61.8% retracement represents the low for now, yet any move into the 76.4% retracement would present an even better area for longs. In either case, a move higher is expected soon to continue the trend with a move above $1.0714. Beware of the FOMC volatility though.