EURUSD broke above the resistance of the down trend line from 1.4966 to 1.4750, and formed a cycle bottom at 1.4309 on daily chart. Further rise above 1.4966 to reach the next cycle top is still possible. Key support is at 1.4309, only fall below this level will signal the resumption of the down trend. For long term analysis, the pair is in consolidation of the long term up trend. Rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is still in favor.
http://www.forexcycle.com