EUR/USD has been pressing lower in the past few minutes but it’s fairly safe to assume it will close above the 200-day moving average at 1.4102 for the first time since early Sept. It will also be the first weekly close above the 100dma and 55dma since the week ending Aug. 25.
Unless there is a big move on Monday, EUR/USD will close Oct. at virtually the same level as the close in Aug.
I’m as skeptical as anyone about growth but my technical instincts say this upmove has one good thrust left, at least to 1.44.
