Home EUR/USD: Towards Key Trendline Following The Historic Pattern –
Forex News Today: Daily Trading News

EUR/USD: Towards Key Trendline Following The Historic Pattern –

EUR/USD is trading at higher levels than it used to. What does this mean moving forward? Here is a technical view from Nordea:

Here is their view, courtesy of eFXnews:

While some technicals suggest the USD may pause here, the overall decline in volatility, caused by better global data – notably from China – is a headwind to the USD now…

The EURUSD? I hear many concerned that Draghi will be worried about currency strength, but with retail sales and IP strong recently, core inflation firming again, Brent oil rising, FX correlation with 5Y5Y moving in favour, EM FX performing “¦I don’t think it they care about the EURUSD level as much. But the Market does the caring, already pricing an around 7bp rate cut from ECB within a year.

The EUR/USD is moving to my target trend (1.1540ish), once above – nothing can stop it from a move toward 1.18-1.19. Because”¦history rhymes. Update in the last chart below.

EURUSD follows the historic pattern EURUSD toward key trendlines

For lots  more FX trades from major banks, sign up to eFXplus

By signing up to eFXplus via the link above, you are directly supporting  Forex Crunch.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.