© O Financista. EUR/USD maintains a positive bias
Investing.com – The trend immediate remains positive on the pair EUR/USD this Monday morning, this one retaining the majority of the gains made during the bounce initiated last Thursday.
Recall that after a new low, annual, the pair EUR/USD had sharply bounces, under the combined effect of profit-taking and a pullback in the Dollar.
The Euro-Dollar was thus able to close above 1.12 last Friday, and the pair marked new peaks at 1.1215 last night at the re-opening of the Forex.
In the latest important information regarding the Euro, it should be noted that the european elections last weekend have revealed a rise in populist parties, lower than expected, which is rather positive.
Today, the economic calendar will be empty (e.g. due to a holiday in the USA), and the lack of catalysts that could justify a correction and a temporary return under 1.12.
In this case, we will monitor the area 1.1170-85, where the moving average 100 hours, 200 hours, and the retracement of 50% of the decline seen between may 13 and the hollow’s annual last Thursday.
Representatives that the pair EUR/USD is holding above this area, the possibilities of continuation of the increase will remain open, with first resistance at 1.1225, 1.1265 and 1.13 to monitor.
If the EUR/USD pair breaks below 1.1170-85, the objectives of downside potential will be at 1.1150, 1.1130 and then 1.1106, the low annual.
Finally, it should be noted that although the economic calendar is empty, many of the subjects might influence the exchanges in the case of new information, with the trade war China-USA, the Brexit the resignation of Theresa May, or the political fallout follow-up to the elections to the European Parliament.