EUR-USD: Next Target Is 1.4283

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 ( -- The euro-dollar currency pair (EUR-USD) is likely to move higher in the coming week after it decisively breached 1.3937, its Sept. 15 low.

The 1.4283 level, EUR-USD's Sept. 6 high, is the next upside target. A violation of this level would set the stage for more strength toward 1.4342, the euro-dollar currency pair's daily falling trend line, and then 1.4550, its Aug. 29 high.

The euro-dollar currency pair's weekly relative strength index (RSI) is bullish and pointing higher, suggesting further strength.

On the downside, the risk to this analysis will be for EUR-USD to return below the 1.3913/1.3937 area. Those two levels are the Oct. 17 and Sept. 15 highs, respectively.

Such a move would cancel the current bullish tone and bring further weakness toward the 1.3690/1.3650 area.

A move below there would activate further declines toward the pair's Oct. 10 low at 1.3377 and then its October low at 1.3144 level.

Overall, the euro-dollar currency pair retains a bullish tone and is likely to target 1.4283.

-- Written by Mohammed Isah.

>To contact the staff member responsible for this article, click here: Ross Snel.

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:
Mohammed Isah is a technical strategist and head of research at, 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 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 At, 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.