EUR / USD analysis today: The Euro continues to appreciate after the European Central Bank meeting

 The Euro continued to point out signs of strength during Thursday's session as we had a gathering and announcement from the ECU financial institution, as most of what we saw from this meeting was largely expected, which gave a "green light" for the EUR to continue rising against the US dollar. Ultimately, there have been concerns that Christine Lagarde was performing some arguing that the rate of exchange was advancing a touch, but the shortage of public specializes in that prompted traders to shop for again.

 Moreover, the stimulus talks within the US still move forward and this could cause a decline within the value of the US dollar generally. Ultimately it's like we'll still see movement up, and you'll even say there's a bullish flag. The bullish flag measures a move towards the 1.23 level, which has been my target for quite a while, and thus I feel that if and once we break above it, it's likely that we go towards that level. For this reason, I think that short-term pullbacks are likely to be seen as buying opportunities and that I would like to notice that today's candle is bullish quite the previous one, just because we hold most of the gains. As we will see during the past several sessions, whenever we advance, we hand over most of the gains but that's not the case on Thursday.

 Down, the 1.20 level would be massive support extending to the 1.19 level, because the 50 days EMA starts to maneuver into that area. This average is tilted higher, and it's showing signs that the uptrend is beginning to consolidate quite anything. At now, I feel we are looking into some quite "buy on dips" scenario, and perhaps extend into the top of the year. this can be very true if the stimulus began within us, which could happen. Overall, this is often a market, and that I haven't any interest to sell in the least, as we are heading higher. Ultimately, “risk appetite” trading appears to be very fashionable.

Post a Comment

Previous Post Next Post