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MIG Bank

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 - Moving Higher

EUR/USD is setting higher lows. We consider that we are in a short-term upside momentum. Hourly resistance lies at 1.1714 (24/08/2015 high). Hourly support can be found at 1.1236 (27/08/2015 low).

In the longer term, the symmetrical triangle from 2010-2014 favored further weakness towards parity. As a result, we view the recent sideways moves as a pause in an underlying declining trend. Key supports can be found at 1.0504 (21/03/2003 low) and 1.0000 (psychological support). We have broken the resistance at 1.1534 (03/02/2015 reaction high). We are entering an upside momentum.

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