EUR/USD Broke out above 1.1670

After two weeks of consolidation EUR/USD finally and decisively broke out above the resistance at 1.1670, which coincided with the (MA)89 indicator on the daily time-frame. It was high time to do so, considering the doji candlestick as well as the hammer candlestick the pair had formed on the weekly time-frame at the support at 1.1570. Currently the pair is still quite bullish and it will probably continue moving to the upside towards the next resistance at 1.1870. A breakout above that resistance could lead to a further move to the upside towards 1.2092, which is the previous high and also coincides with the (MA)89 indicator on the monthly time-frame.