EURUSD points at higher targets - 2ndSkies

FXstreet.com (Barcelona) - On the back of a spectacular EUR/USD rally last week, courtesy of the FOMC, the Euro has been able to hang on its recent gains above the 1.35 handle, an area which remains a magnet even after Merkel's German election win.

According to Chris Capre, Founder at 2ndSkies: "EUR/USD is forming a bullish flag pattern., with intraday charts suggesting the pair should continue its run higher." Capre is looking into two different entries, "either taking a pullback setup towards the 1.3445 support area, or a more aggressive intraday play off 1.3500" Capre wrote.

Upside targets are 1.3560, 1.3587 and 1.3690, with Capre's bullish view only negated below 1.3400 on a daily close basis.