During the last 52 weeks the EUR/USD
pair is seen in a sideways movement, which is in fact a record, having in mind
the length of the period. This is of significant importance as any possible
break would set the course towards major directional move.
If we take into consideration the long term trendline, the most feasible
development should be to the upside. This assumption will be confirmed if the
bulls conquer $1.1185 mark.
In short term outlook nothing points this perspective. On Friday session the
pair was trading above the physiological level $1.10. For shortly was seen in
correction rally towards the 20-day EMA at $1.11, but lost strength and closed
at $1.0973.
The US calendar for the next week offers yet another FOMC meeting. Lately US
data is showing positive numbers and slightly upbeat from Fed would surge the
US dollar additionally. Anyway key support remains the psychological level st $1.10.
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