EUR/USD Price Analysis: Immediately To The Upside Comes In 1.2050/64

EUR/USD starts the week on a strong note and finally manages to advance further north of the psychological 1.2000 yardstick.

10 and one 10 us dollar bill

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The firm buying pressure is expected to meet the next interim hurdle in the 1.2050/64 band, where converge the 100-day SMA and a Fibo retracement (of the November-January rally).

Above the latter the focus of attention is forecast to shift to the February peaks around 1.2240.

Above the 200-day SMA (1.1906) the stance for EUR/USD is predicted to remain positive.

EUR/USD daily chart

(Click on image to enlarge)



Disclosure: Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes ...

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