EURUSD pulled back from 1.2899 after meeting the trend line resistance (from 1.2978 to 1.2937), and is topping on 4 hours chart. Further fall below 1.2760 to reach the next cycle bottom can be expected in next two weeks. Key resistance is at 1.2899, a break above this level may signal the resumption of the up trend. For long term analysis, the fall from 1.2899 is treated as in correction to the up trend, and further rise above 1.2978 previous high to reach the next cycle top on weekly chart can be seen in the next two months.
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