1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

EUR/USD headed toward highest close in 2-weeks

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Córdoba) - EUR/USD peaked during the American session at 1.1274 and then pulled back modestly only to rise back toward the highs. Currently is testing the high as it trades around 1.1270, holding a bullish tone.

    EUR/USD: This time is different?

    The pair did not rise above the highs of the previous two trading days but the difference is that today it is keeping gains and is holding above the daily 20-SMA.

    EUR/USD reached levels above 1.1250 in most of the days of the last two weeks but for the first time it could post a daily high on top of the mentioned level on the back of a weak US dollar across the board.

    The euro rose versus the US dollar but lost ground against the Swiss franc and remains unchanged versus the pound. Greenback and the yen are falling across the board in the currency market.

    A daily close above 1.1250 could give support to EUR/USD to move higher. Above 1.1300, the next resistance could be located at 1.1320/25 and 1.1360.
    For more information, read our latest forex news.

    Continue reading...
     

Share This Page