• 709 days Will The ECB Continue To Hike Rates?
  • 709 days Forbes: Aramco Remains Largest Company In The Middle East
  • 711 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,110 days Could Crypto Overtake Traditional Investment?
  • 1,115 days Americans Still Quitting Jobs At Record Pace
  • 1,117 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,120 days Is The Dollar Too Strong?
  • 1,120 days Big Tech Disappoints Investors on Earnings Calls
  • 1,121 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,123 days China Is Quietly Trying To Distance Itself From Russia
  • 1,123 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,127 days Crypto Investors Won Big In 2021
  • 1,128 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,128 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,131 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,131 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,134 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,135 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,135 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,137 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

EURO Rebounds Above 1.3250

EUR/USD is holding steady today after yesterday’s sharp rebound above the key level at 1.3250 (38.2% Fib Oct/Jan Decline).

Further sustained confirmation above 1.3250 unlocks an extended recovery into our target zones at 1.3440/60 and 1.3548 (02nd Dec high). We have opened a buy stop order in anticipation of this scenario.

Meanwhile, the bears need to push back beneath 1.3000 (psychological support), then 1.2879 in order to resume the major downtrend lower.

Inversely, the USD Index is holding steady above key support level around 79.10, ahead of 78.30. The pullback had unwound historic speculative net long positions from the month of January (which tends to be seasonally positive for the US dollar).

Expect these levels to act as two of the last points of defence for a potential re-launch of the greenback’s recovery which is still part of our bullish cycle strategy for a further 20% gain over the multi-month period.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment