NOTE TO TRADERS: Tomorrow in the US is a bank holiday, so US markets might be slow and less volatile
EURUSD – Building A Case for More Upside
Last Sunday in our weekly forex price action outlook, we suggested after the false break, and failure to attack the range lows, the Euro was building a case for more upside. As suggested, the Euro has made further gains on the week, pressing up against the key resistance zone around 1.37/3720 area.
A daily close above 1.3720 suggests the pair is working towards an attack on the swing highs around 1.3810/20. Short term we remain bullish if we can clear 1.3700. Bears can watch for intra-day corrective price action heading into 1.3820 …... Keep reading