Home EUR/USD Price Analysis: Positive view remains unchanged
FXStreet News

EUR/USD Price Analysis: Positive view remains unchanged

  • EUR/USD resumes the upside following Wednesday’s drop.
  • The 1.1980/90 band emerges as the next target of relevance.

The recovery in EUR/USD remains well and sound despite Wednesday’s small pullback and retracement from new 2-week highs above 1.1900.

Buyers seems in control of the market so far. A decisive breakout of the 200-day SMA in the 1.1880 area should open the door to further gains in the very near-term with the next target at the 1.1980/90 region. In this area converge the mid-March peaks, the 50-day SMA and a Fibo level (of the November-January rally).

Above the 200-day SMA (1.1882) the stance for EUR/USD is expected to shift to positive.

EUR/USD daily chart

 

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.