EUR-USD Higher, Set for Further Strength
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.
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