EUR/USD price has progressed quite as expected over the past few days, re-tracing down to the <>1.3700 area. Now, the price has continued to retest the previous high of <>1.40ish – something the current price could easily overcome. The price is not looking good at all for the USD this week as it smoothly stays within the bullish red channel without virtually any interference.
Fundamentals of the EUR have been strong this week with European stocks progressing better and its consumer confidence up. On the other hand, the USD side is being lackluster perhaps due to the public holiday which may have also contributed to the continued ascending of the EUR over the USD this week. Overall; on day to day terms, the current consensus is a full 3/3 EUR bias.
Disclaimer: Trading in the FOREX market & other forms of investments involves risk. This information should not AT ALL be viewed as investment recommendations. The charts & information provided here are not meant for investment purposes & only serve as technical examples.
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