EUR/USD Moved to the Upside Today

There was a large but unsurprising move to the upside today on the EUR/USD charts, as the pair reached the support at 1.1170, which on the one-hour time-frame coincides with the (MA)89 indicator, formed an inverted hammer candlestick and a hammer candlestick on the same time-frame above the indicator and started rallying. The pair reached a high at 1.1220 and bounced off from it, but it is unlikely that is the end of the move to the upside, especially considering the spinning top candlestick and the hammer candlestick on the weekly time-frame, both of which are an indication for a further rally. Should that occur the next closest target of the pair will probably be around 1.1300.