spoteuro
Long

EURUSD - 1.20 Target

FX_IDC:EURUSD   Euro / U.S. Dollar
26 0 0
The euro             has been beaten up during the past 12 months but it has managed to find a bottom near the 1.05 mark. It's last rebound went has high as 1.17 in the fall of 2015. Since testing the 1.05 level a few months ago, we began to see a bounce back into the 1.10 level. This followed a retracement and range bound trading before another breakout above 1.10 has brought the currency to test 1.14. Price action has all the symptoms of dollar weakness, at least for the next few months and I susspect we will see the pair trade near the 1.20 level with 1.14, 1.16 and 1.18 as targets. Stop is at several levels, with 1.0750, 1.0650, and 1.0400.
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