• EUR/USD Price Analysis: Further upside seen testing 1.18 and above

    • EUR/USD keeps pushing higher and tests 1.17 and beyond.
    • Attention now shifts to the September 2018 highs above 1.1800.

    EUR/USD recorded new 22-month peaks in the 1.1720 region earlier on Monday, extending the upside momentum for yet another session.

    While overbought conditions might spark some correction lower in the near-term, the underlying bullish bias remains unchanged. That said, immediately to the upside emerges the 1.1815/52 band, where converge the September/June 2018 highs.

    Looking at the broader picture, as long as the 200-day SMA, today at 1.1073, holds the downside, further gains in EUR/USD remains well on the table.

    EUR/USD weekly chart

     

    Join the Discussion

    Your email address will not be published. Required fields are marked *

    Back to top