There are signs of a longer-term reversal: the monthly chart is showing a bullish two-bar reversal after a long down-trend, and although this month has seen a pause in the surge, it is expected to resume eventually. On the weekly chart there is a double-bottom reversal pattern – another bullish sign. The EUR/USD pair has already breached the neckline and moved higher, but it has not yet reached the minimum expectation for the pattern at 1.1450. Zooming in further to the 4-hour chart we can see that the pair has just recovered from a pull-back in an established v. short-term up-trend, all-in-all the technicals point to a bullish outlook. A break above the current highs at 1.1289, therefore, would probably lead to a move higher to the target at 1.1450.
EUR/USD 4-Hour Chart