EUR/USD at the 1.3800 level.

EUR/USD in a bullish trend for the third day breaking above july's highest price and broke the psychological Resistance 1.1300 in the same day. This was not expected.
 
Next week EUR/USD will probably reach the previous high at 1.1436 but the question is whether it will rise any higher than that.
 
The EURUSD may continue going higher, but the 1.1400 level has proven to be a good resistance for the pair. A pullback correction may come soon, due to the fact that the pair is overbought.
 
On Friday session the EURUSD pair rallied for the third straight day and closed well in the green near the high of the day on a wide range. The currency is setting its self to reach today May’s high at 1.1460.
 
On Friday session EUR recorded significant growth for third consecutive day and closed at highest level against USD since mid-May. The euro rose by nearly 130 pips to 1.1366. The daily limit values were reached respectively at 1.1375 and 1.1228. The week was successful - EUR / USD is up by 2.3%. Current attitudes are positive but for continuing upward move is needed breakthrough of 1.1380 / 1.1400. Otherwise there is possible correction to 1.1290.
 
EUR/USD bounced off the resistance at 1.1712 but that is probably temporary. Should the pair break above that level it will likely reach the resistance at 1.1800 visible on the monthly filter chart.
 
On Monday session the single currency continued its strong performance against the dollar for a fourth day. The euro recorded the most profitable session since mid-March, adding 240 pips and closed at seven-month high of 1.1616. The daily limit values were recorded at 1.1704 and 1.1369. Ongoing concerns about the global economic development and the upcoming rise in US interest rates this year helped to boost the EUR / USD. Technical attitudes are positive and nexttarget is 1.1710.
 
Back
Top