-EUR/USD: A break above 1.1600 would expose 1.1650; otherwise, it could fall towards 1.1400.
-The EUR/USD advances for the second day in a row, beginning the week in the right foot, up 0.18%, trading at 1.1587 during the day at the time of writing.
=Positive market sentiment as witnessed by rising US stock indices surrounds the financial markets.
-In the FX market, risk-sensitive currencies rise, with the NZD, the GBP, and the AUD, as the strongest ones, while the greenback falls, despite higher US T-bond yields.
-In the daily chart, the shared currency bounced off the low around 1.1500, approaching the 1.1600 figure, which was respected in the last four previous tests, would be a strong resistance level to overcome. A daily close above the latter would expose the EUR/USD for further gains. The first supply zone would be a downward slope that confluences with the 50-day moving average around the 1.1650-80 area. A break above the abovementioned would open the door towards the October 28 high at 1.1691.
Credits: Christian Borjon Valencia
-The EUR/USD advances for the second day in a row, beginning the week in the right foot, up 0.18%, trading at 1.1587 during the day at the time of writing.
=Positive market sentiment as witnessed by rising US stock indices surrounds the financial markets.
-In the FX market, risk-sensitive currencies rise, with the NZD, the GBP, and the AUD, as the strongest ones, while the greenback falls, despite higher US T-bond yields.
-In the daily chart, the shared currency bounced off the low around 1.1500, approaching the 1.1600 figure, which was respected in the last four previous tests, would be a strong resistance level to overcome. A daily close above the latter would expose the EUR/USD for further gains. The first supply zone would be a downward slope that confluences with the 50-day moving average around the 1.1650-80 area. A break above the abovementioned would open the door towards the October 28 high at 1.1691.
Credits: Christian Borjon Valencia