- EUR/USD extends the gains, rising to 1.0500 on Friday, to become its highest level since late January.
- It strengthens the pair over SMA for 20 days, which enhances a shift in feelings towards the upward trend.
- The momentum indicators remain firmly optimistic, as the relative strength index climbs in the depths of positive terrain.
EUR/USD continued its upward track on Friday, climb to 1.0500 and put its highest level in weeks. The fixed rise of the husband over the simple moving average for 20 days (SMA) indicates that buyers are preparing to control, and may turn a short -term look into a more constructive position. This break can lead to resistance levels until it paves the way for more upward trend if the momentum remains intact.
Technical indicators indicate bullish momentum. The Relative Power Index (RSI) has risen to 61, confirming the interest of strong purchase, while the Mediterranean graph of rapprochement (MACD) prints the emerging green bars, enhancing continuous bullish payment. The ability of the husband to stick to SMA for 20 days indicates that declines may be seen as opportunities instead of renewed weakness.
In the future, the next test for olives will be the 1.0525-1.0550 region, which can work as the following resistance area. If buyers maintain control, move about 1.0600, around SMA for 100 days, is not possible. On the other side, if the pair slips to the bottom of SMA for 20 days, initial support appears at 1.0450, with a deeper decline that is likely to target 1.0420.
The euro graph/daily dollar
