EUR/USD is bullish for the last few weeks with accelerating price action from 1.3470 so we suspect it represents a black wave 3 in progress that may extend even up to 1.3900 with five subwaves.

Right now price could be slowing down in wave (iv), but only temporary as we will look for a push up in wave (v) in this week. Support for current pull-back comes in around 1.3760.

Forex Analysis by Gregor Horvat at ForexPros. com