The ECB’s next rate decision is on the economic calendar for next Thursday, and this could help bring the bid to the Euro as we approach that event. This theme in EUR/USD could have more drive to it, particularly if we end up getting an actual announcement or plan of stimulus exit. The next area of interest on the chart is a potential zone of resistance that runs from 1.1821-1.1855, and after that is another zone of resistance that runs from 1.1961-1.2000; and if we break through that area, the prospect of bullish continuation becomes an attractive theme as we’d have seen a respectable recovery from the May swoon in the single currency.
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