The EUR/USD pair has continued to advance on the back of dollar’s weakness, rallying ahead of Wall Street’s opening to fresh two-year highs above 1.1940. A test of 1.2000 is on the cards, according to FXStret’s Chief Analyst Valeria Bednarik reports. Key quotes “Speculative interest continues to sell the greenback, with the latest slump lacking a particular reason. In general, investors are dumping the US currency on concerns about economic growth and the absence of a new coronavirus stimulus package.” “Building Permits in the US increased 18.8% in July, while Housing Starts were up by 22.6%. The figures, however, fell short of underpinning the American currency.” “The 4-hour chart shows that EUR/USD has accelerated its advance beyond ascendant moving averages, with the 20 SMA currently at 1.1850. Technical indicators head firmly higher at fresh over one-week highs, and with the RSI already in overbought levels. Nevertheless, there are no signs of upward exhaustion, favoring a bullish continuation ahead towards 1.1995, a relevant weekly high from May 2018.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Dollar Index drops further and records new 2020 lows near 92.30 FX Street 2 years The EUR/USD pair has continued to advance on the back of dollar’s weakness, rallying ahead of Wall Street’s opening to fresh two-year highs above 1.1940. A test of 1.2000 is on the cards, according to FXStret’s Chief Analyst Valeria Bednarik reports. Key quotes “Speculative interest continues to sell the greenback, with the latest slump lacking a particular reason. In general, investors are dumping the US currency on concerns about economic growth and the absence of a new coronavirus stimulus package.” “Building Permits in the US increased 18.8% in July, while Housing Starts were up by 22.6%. The figures, however, fell short… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
