EUR-USD Targets Key Resistance
The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK ( fxtechstrategy.com) -- Although the euro is maintaining an upside bias against the U.S. dollar, it will have to break and hold above 1.3288 level to convince the market of further gains. This development if seen will leave the pair aiming at the Dec. 5 high of 1.3484.
A violation of here will resume its uptrend and call for a push toward the Dec. 2 high at 1.3547, where a breach will target its weekly 200 exponential moving average at 1.3642. Its daily RSI is bullish and pointing higher supporting this view.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV