Just to re-fresh your memory, EUR/USD jumped from 1.27 to 1.34 one week and from 1.34 to 1.47 the following week. I don’t think anything like that is going to happen this year in that we are now in a completely different market phase but nevertheless it’s worth remembering.
Dealers say that a break above 1.5160 would take a large number of options out of play, greatly increasing bullish momentum. A break of technical resistance at 1.5290 (double-top neckline) would also increase bullish momentum. These are two important levels to watch in coming weeks.
