Bullish momentum: The EUR/USD continues the bull run since November’s low at 1.2660. In the 4H chart we see a market developing bullish momentum, as the RSI reading tagged 70, held above 40 and than back to 70 again. The moving averages are almost in complete bullish alignment. Price action did push above the 200-4H-SMA, test it as support, and then rally – a slingshot since last Thursday (11/28). Resistance: The rally since mid-Nov. was just as fast as the decline prior to it from the 1.3138 resistance pivot and October high. This is the short-term target/resistance to monitor for. Just above, we have the 1.3170, ... (full story)