New $EURUSD price-target 1.3338/1.3378. There's nothing as of yet that would suggest Euro is ready to turn-over and reverse this current trend. Today's high of 1.3253 tells me that 1.3289/1.3294 is practically a done deal sometime this wk, so higher we go imo. New price-target 1.3338/1.3378 (look for this move come next wk).
As long as $GBPUSD continues to move up this will help $EURUSD climb to the 1.3289/1.3294 level. If $EURUSD for some (good) reason makes a run for a retest of 1.3415 over the next wk or two, then Euro stands a chance at 1.3705 before markets turn down again.
A break outside the linear regression channel has happen three times with no sub stained break to the downside, at least not yet. It is my opinion that we get a break to the upside for a fourth time then fall back into the channel.
The tight range for the last couple of days EURO has been in is due to Ben Bernanke speaking before Congress, imo there's no-way a big move will occur, in fact it occurred before his talks began July 10th and EURO will resume normal movement come Friday into next wk.