The past week has seen the recovery in EURUSD gather steam with the break above notable resistance at 1.1720-25 confirming that the pair has based out at 1.15, while signaling that the momentum is on the upside. As such, this opens a run in for the June 14th high at 1.1850, which is the final hurdle before a potential move towards the key 1.20 level. However, if the pair falls back towards 1.1600-50 could suggest another corrective move to test 1.1500-10 support zone. ...
On Thursday, the ECB's cautious stance on the removal of monetary stimulus sent EUR/USD down sharply, the biggest move in recent memory. This has price support running back to 2015 and the January 2017 trend-line squarely under assault again. The thinking on this end is that we will see some backing-and-filling in the days ahead as the market digests the impact of Thursday's outcome. This could make for less-than-ideal trading conditions ...
There is a key zone of support from around 11730 down to 11660, which EURUSD held on several occasions during the latter part of last year. The euro was able to recapture this once strong level of support last week and will be our first zone to watch for a higher-low to develop. Should we see buyers step up in the aforementioned zone, we'll be look for at least one more thrust higher towards the 11900/12000-area. A successful test could ...
Looking ahead to next week, there is a good amount of support in the vicinity of 11725/670 which could put a larger rebound in place, or at least pause downward momentum for more than a couple of days. Since breaking down last month, wow price reacts to the first big test of sizable support will be critical to the outlook moving forward. So, while this next week may not hold a big move, price action could be telling moving beyond the next ...
The Euro continues to inch upward against the British Pound but the dominant price trend continues to favor a downside bias for the single currency. The pair has recovered to the highest level in nearly two months but price action remains firmly locked within a falling channel set from October 2017. Major resistance comes in at 0.8904, the confluence of a former chart inflection point as well as the trend channel top. A close above that ...
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