EUR/USD: A Clear Close Above 50-MA round 1.1303 To Target 1.1385 Ahead Of 1.1435 – ING

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EUR/USD is quietly making its way to the upside. What’s next?

Here is their view, courtesy of eFXdata:

ING discusses EUR/USD technical outlook and maintains a neutral bias on a multi-days basis.

“The short-term recovery scenario continues, confirmed by the further improving daily momentum chart. Prices are currently pounding against the declining MA-50 line at 1.1303. A clear close above this moving average line suggests further upside with next overhead resistance coming in at the upper end of the falling trend channel around 1.1385 with the declining EMA-200 line currently coming in at 1.1453,” ING notes. 

“Our long-term view remains bearish and we are still looking for the next selling opportunity to downgrade our rating. For now, we stick to our Neutral rating,” ING adds. 

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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 the 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.

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