The Euro
versus the Dollar continues with its bullish momentum, supported by the lack of
information of Friday’s meeting at Jackson Hole, where neither Janet Yellen,
nor Mario Draghi said anything about monetary policy. Draghi seems no to be
worried about the recent rally on the Euro and that is why the Single Currency
has risen even higher. The effects of hurricane Harvey can hurt the US economy
in the short term and that has also pressured the Dollar down. The EUR/USD is
coming near the 1.2000 zone and that level could act as resistance, but a
breakout of that area could take the pair to the 1.2100 level. To the downside,
the closest support is at the 1.1900 level in case of a retracement, but a
better support could be the 1.1700 level where the price consolidated for a
while as shown on the daily chart.
The sky is the limit!!
ReplyDeleteIt broke out above 1.2000.
ReplyDeleteI think it will continue rallying.
ReplyDeleteVery good analysis.
ReplyDeleteExcellent information to keep in mind.
ReplyDeleteGreat analysis!
ReplyDeleteExcellent Analysis! Thanks.
ReplyDeleteSupport level can be found at 1.1820.
ReplyDelete