24 Mar 2014
EUR/USD hovering around 1.3790
FXStreet (Córdoba) - The EUR/USD rose at the beginning of the week to 1.3805, approaching Friday’s highs but then turned to the downside and fell to 1.3787. So far trading has remained inside last American session range.
Last Thursday the EUR/USD bottomed at 1.3747, dropping from 1.3930, and since then it has been moving with a bullish bias, but unable to hold above 1.3800 so far.
EUR/USD top already in place?
According to Alexander Nikolov, from Trend Recognition the EUR/USD still has the main focus on the upside but warns that a move below 1.3720 will signal that the current upmove has likely ended. “We should keep in mind that if the current upmove ends, it will likely signal the end of the entire upmove from the July 2013 low”.
Last Thursday the EUR/USD bottomed at 1.3747, dropping from 1.3930, and since then it has been moving with a bullish bias, but unable to hold above 1.3800 so far.
EUR/USD top already in place?
According to Alexander Nikolov, from Trend Recognition the EUR/USD still has the main focus on the upside but warns that a move below 1.3720 will signal that the current upmove has likely ended. “We should keep in mind that if the current upmove ends, it will likely signal the end of the entire upmove from the July 2013 low”.