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MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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EUR/USD: New Swing Highs

EUR/USD has extended the advance to breach the previous swing high at 1.3322 suggesting completion of a corrective pullback at 1.2974 on 16th February.

Sustained breach of 1.3322 would signal an extension of the advance from the 1.2624 January swing low, with support at 1.2974/1.3187 (reaction low/weekly gap) seen holding for an attack on 1.3510/1.3548 (reaction high/channel resistance) ahead of the 200 day moving average, currently at 1.3735.

Settlement below 1.2974/1.3187 from here would suggest topping, threatening breakdown towards the old breakpoint at 1.2879 ahead of the major swing low at 1.2624 initially in a resumption of the 1.4247 decline.

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