EUR/USD at the 1.3800 level.

The euro / dollar did not make a substantial move yesterday. The signals are neutral for the time being, probably with light bears signals. But as a whole, I stay in the Bulls camp and every downward pressure can be seen as a good opportunity for long positions. We have an interesting fact, as you can see on the four-hour chart, where the H4 EMA 200 provides valid and strong support during the upward rally. And now it also provides us with a good place to buy localized in the 1.1285 area. The first resistance is at 1.1455, whose breakthrough can cause further rallying up for testing at 1.1500 - 1.1530 or higher. Downwards, a clear breakthrough and a daily closure below 1.1285 will disrupt the ascending views.
 
The euro rose against the US dollar on Friday. By the close of US trading, EUR/USD was trading at 1.1469, gaining 0.62%. I believe that support is now at 1.1369, Thursday's low, and resistance, probably, will be at level of 1.1491 - the maximum of Wednesday.
 
EUR/USD marked a 14-month high on Friday, reaching 1.1473 and closed the week at 1.1469. The pair will face next week resistances at 1.1490 and 1.1525, while supports are located at 1.14 and 1.1355.
 
Correction movement before upward trend continues, strong resistance at 1.1490/1.1500. Focus turn to ECB monetary policy decision on Thursday.
 
Today the EUR/USD is hovering around 1.1470, but couldn’t find enought strength to conquer the important 1.1490 mark. However indicators are keeping their bullish momentum, so we may witness another test of this level during next hours.
 
EUR/USD rallied yesterday to 1.1582, highest level since May 2016, but retreated modestly before closing. The outlook remains bullish with next target seen at 1.1615.
 
Poor macroeconomic calendar today and low volumes. All eyes on Draghi tomorrow. Anyway the bullish tone remains in tact for the EUR/USD pair.
 
EUR/USD bounced off from 1.1480 today and finally broke out above 1.1600 due to the fundamentals. Next target will likely be around 1.1700.
 
Back
Top