Search ForexCrunch

EUR/USD is trading at fresh weekly, bullish in the short-term. The 1.1008 mark needs to be broken in order to see further gains, according to FXStreet’s Chief Analyst Valeria Bednarik.

You can’t miss the last analysis by Yohay Elam

Key quotes

“Germany released the June GFK Consumer Confidence Survey, which came in at -18.9 as expected. The US published the Chicago Fed National Activity Index, which came down to -16.74 in April from -4.97 in March. After Wall Street’s opening, the market will focus on the CB Consumer Confidence foreseen at 87.1 from 86.9 previously.” 

“The 4-hour chart shows that it has broken above its 20 SMA with a large candle, which usually reflects high volume. Technical indicators, in the meantime, maintain their bullish slopes within positive levels.” 

“The EUR/USD pair has topped at 1.1008 last week and would need to clear that high to extend its gains throughout the following sessions.”