EUR/USD: Technicals support further gains - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, technicals in EUR/USD support additional gains, should stops above 1.0900 get triggered.
Key Quotes
"From a technical point of view, the EUR/USD managed to close a second week in-a-row with gains and above 1.0840, the 61.8% retracement of the daily slide between 1.1034 and 1.0519."
"The short term picture is bullish, as the 4 hours chart shows that the price holds near last Friday's high set at 1.0899, whilst the 20 SMA heads higher below the current price and converging with the 50% retracement of the same rally in the 1.0780 region."
"In the same chart, the Momentum indicator heads north above 100, whilst the RSI indicator hovers around 61, all of which supports additional gains, should stops above 1.0900 get triggered."