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) -- The EUR-USD pair closed higher for a second week in a row since halting its recent declines. However, it will have to set a foothold above the 1.3288 level to convince the market of further recovery. If this is confirmed, further upside offensive could develop toward the 1.3483 level.
A breach will pave the way for a move further higher toward its Dec. 2 high at 1.3547 where a violation will target its weekly 200 exponential moving average at 1.3642.