The single currency has
recovered and gains momentum for second session, well supported by the stronger
pound that weighed on the US dollar, further affected by the US Retail
Sales figures for August, down with 0.2% from a month
earlier.
The EUR/USD pair keeps advancing today and reached daily high at 1.1985, which is the current market price. On the four-hour time frame the price is moving above its moving averages with 20-day and 100-day crossing at 1.1920 area and are providing good support, below which bears could be seen back in the game. RSI and stochastic are displaying strong bullish momentum and both are aiming the overbought territory.
The short-term outlook bullish, especially if the pair accelerate and hold above the 1.1990 area then next target will be 1.1230.
The EUR/USD pair keeps advancing today and reached daily high at 1.1985, which is the current market price. On the four-hour time frame the price is moving above its moving averages with 20-day and 100-day crossing at 1.1920 area and are providing good support, below which bears could be seen back in the game. RSI and stochastic are displaying strong bullish momentum and both are aiming the overbought territory.
The short-term outlook bullish, especially if the pair accelerate and hold above the 1.1990 area then next target will be 1.1230.
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