Euro is pushing higher and it seems that there is nothing that could stop it. Yesterday's rally broke through the resistance (red dotted line) , and then re-tested the area by consolidating there during the Asian session.
There are two targets that I am looking for (short-term) and they are both projected using the longest leg of that triangle from where we broke out. A conservative approach would be to use the lower target on the chart but as it is so close to the magical 1.4000, I'd say it is perfectly reasonable to go for the maximum target. However, these targets are short-term, so if they are reached, it doesn't mean that the move is over.
There are two targets that I am looking for (short-term) and they are both projected using the longest leg of that triangle from where we broke out. A conservative approach would be to use the lower target on the chart but as it is so close to the magical 1.4000, I'd say it is perfectly reasonable to go for the maximum target. However, these targets are short-term, so if they are reached, it doesn't mean that the move is over.