fxs_header_sponsor_anchor

News

EUR/USD Price Analysis: Extra upside now targets 1.0970

  • EUR/USD maintains the bullish move intact so far this week.
  • Further gains could revisit the 55-day SMA around 1.0970.

EUR/USD picks up further pace and climbs to weekly highs near 1.0930, an area coincident with the 100-day SMA, on Wednesday.

The pair’s current momentum seems to be favouring the continuation of the march north for the time being. That said, there is a temporary hurdle at the 55-day SMA at 1.0968, which precedes the psychological 1.1000 mark and the August top of 1.1064 (August 10).

In the meantime, the pair is likely to remain bid while above the 200-day SMA, today at 1.0810.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.