The Euro has extended its recent gains following a critical test of the 1.3700 handle. As suggested in the most recent candlesticks report caution is suggested when looking at trading a reversal with EUR/USD, given that the pair remains in an uptrend on the daily.
Previous hints at a reversal have seemingly been shrugged off by the pair. This includes most recently a Shooting Star bearish reversal candlestick pattern, which failed to results in a more meaningful decline. In the absence of confirmation for a move lower, the upside is preferred. The 1.3800 mark is likely to prompt some selling pressure to emerge.