Euro bulls need to close above 1.0480 if they want to continue their rally towards the 1.05 goal. Short-term resistance can be expected at 1.06 while major resistance lies at 1.0870. On the other hand, dollar bulls have the advantage over the pair as they have a strong downwards momentum that might only be halted temporarily before continuing to parity.
A lof of experts and analysists predict parity in early 2017 which is the reason for other markets, such as Gold, to depreciate as market investors are pumping fresh money to back the US dollar in its historical rally.
Chart: EUR/USD H4
It will likely consolidate sideways until the end of the week.
ReplyDeleteGreat analysis, thank you for sharing!
ReplyDeleteI believe it will continue to decline after some consolidation.
ReplyDeleteStarted with a positive note.
ReplyDeleteVery helpful and insightful analysis, excellent.
ReplyDeleteImportant information, will keep it in mind!
ReplyDeleteThe pair continue trading flat.
ReplyDelete