Currencies

EUR-USD Looks to Push Higher

 
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NEW YORK (fxtechstrategy.com) - Having climbed above its key resistance at the Jan. 27 high of 1.3233, we are looking for EUR to strengthen further against USD.

This will aim at the Dec. 12 high of 1.3375, with a breach targeting its Dec. 2 high at 1.3547. Its daily RSI is bullish and pointing higher suggesting further strength.

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Alternatively, support for a pullback lies at the 1.3233 level where a violation will aim at the 1.3000 level and then the Jan. 25 low of 1.2930. Further down, support lies in the area of its Dec. 29 low of 1.2856.

All in all, the pair looks to strengthen further having resumed its nearer term uptrend.

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Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market for the past seven years. He formerly traded stocks before crossing over to the forex market, where he worked for FXInstructor LLC as a technical analyst and head of research before joining FXTechstrategy.com. He has written extensively on the forex market and technical analysis and his articles have been featured in The Technical Analyst Magazine, The Forex Journal Magazine, The International Business Times and FXstreet.com. At FXTechstrategy.com, he writes daily, weekly and long-term technical commentaries on currencies and commodities, which are offered to its clients. He also produces The Professional Suite for his subscribers. He provides full coverage of the forex market with specific focus on G10 currencies as well as the commodities markets, with focus on five key commodities.

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