EUR/USD outlook

Author: Sean Lee | Category: News

There is trendline resistance from 1.5140 through 1.4280 coming in close to current levels. The 200-week MA is at 1.3957. A weekly close above both of these would be a very bullish indicator. The daily chart is bullish but could pull back significantly without altering the trend.

The EUR crosses are making a major statement with EUR/JPY breaking out of a holding pattern and EUR/CHF confirming major support at 1.2700. As I mentioned yesterday, the “Swiss mafia” were busy buying EUR/CHF early in the European session and they have a happy knack of getting all money matters correct.

Buying EUR/USD dips towards 1.3890 looks like a sensible play; technical resistance around 1.3980 and probable barriers at 1.4000 need to be respected.

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose