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

Euro Weakens Back Into 1.3250

EUR/USD is weakening today after the recent sharp rebound above the key level at 1.3250 (38.2% Fib Oct/Jan decline).

Only further sustained confirmation above 1.3250 unlocks an extended recovery into our target zones at 1.3440/60 and 1.3548 (02nd Dec high). Our long position is now active 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 the key support level 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 this level to act as one 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