EUR/USD jumps to test 2017 tops

19 May, 2017

EUR/USD jumps to test 2017 tops

The US dollar continues to get battered by its European counterpart so far this session, with EUR/USD now flirting with daily tops of 1.1164, as the bulls now target 1.1172 - 2017 tops on its way to conquer 1.12 handle.

EUR/USD sees a 60-pips rally in Europe

The EUR/USD pair almost reversed yesterday’s entire slide and now consolidates near half-yearly highs, as the USD bears remain in command across the board, despite a sharp rally seen in treasury yields.

A renewed risk-on wave gripped Europe, sending the European equities higher in tandem with the US yields, in the wake of a rally in oil prices. Hence, it appears that markets have looked past political uncertainty surrounding the Trump administration.

Meanwhile, better-than expected Eurozone current account and German PPI data also keeps the sentiment around the shared currency underpinned. European Monetary Union Current Account s.a above forecasts (€32.3B) in March: Actual (€34.1B)

EUR/USD Technical Levels

Valeria Bednarik, Chief Analyst at FXStreet notes: “The bullish stance is clear intraday as in the 4 hours chart, technical indicators resumed their advances after correcting extreme overbought readings. The Momentum is bouncing strongly from its 100 level, whilst the RSI indicator is heading north around 71. In the same chart, a bullish 20 SMA contained declines, now around 1.1105.”

“Above the mentioned high, the pair has scope to advance up to 1.1210, en route to 1.1260, a major long term resistance, while dips towards the 1.1080/1.1100 region will likely attract buying interest,” Valeria adds.

Source link   Presented by HYCM

EURUSD has corrected its position

We've seen an attempt to get to higher ranges but it went downwards. Resistance saves at 1.1180...

EUR/USD trying to breach resistance

EUR/USD is meeting with resistance around 1.1270 but a break above here would pave the way to move out to last summer’s highs around 1.1375 and 1.1440. USD/CHF remains under pressure and after this period of consolidation, assuming the next leg is lower...

EUR/USD still heading North?

EUR/USD continues to forge its way higher. Having hit yesterday target of 1.1250...

EUR/USD aiming higher?

EUR/USD is now comfortably above the 61.8% retracement of last year’s sell-off...

EURUSD pair extends strong rally

The Euro surged above 1.1100 barrier during Asian session on Wednesday, extending strong rally on Tuesday...

EUR/USD touches 1.10

There's a scattering of long USD interest currently in play, although positions aren't looking to be...

EUR/USD eyes further gains

EUR/USD is currently sitting on the 61.8% reversion of the post Trump-election sell-off...

Euro dipped to 1.0850 support

Support is holding for now, with Wednesday’s Doji and today’s acceleration higher, seen as initial reversal signal...

The pair gapped upwards

The positive news from the Euroland failed to sustain a bid tone in the market...