Forex – EUR/USD: The Euro continues to progress, in the context of a day very busy


EUR/USD accentuates the bounce of Friday

Investing.com – The EUR/USD pair is increasing its rise on Monday after some hesitation in the morning, marking a peak at 1.1326 for the moment, the highest since 5 days.

The movement seems to be linked to any specific information, and primarily as a result of the influence of the rise in the pair GBP/USD correlation, and the impact mechanically bullish of the Dollar’s decline recorded against most major currencies.

Recall that the EUR/USD pair had started an upward movement on Friday afternoon, following a new low annual 2019 to 1.1234.

Since that time, several bullish signals have been observed, the pair being placed above its moving average 100 hours Friday, and then above the psychological threshold of 1.13 and above the moving average 200 hours (1.1315) this Monday.

At this stage, the next resistance potential, is situated on the summit of the last week at 1.1341, 1.1350, and on the psychological threshold of 1.14.

In case of correction, the psychological threshold of 1.13 will be the first resistance to take into account, before 1.1250, then 1.1234 (hollow 2019) and 1.1214 (hollow 2018).

Finally, it should be noted that the economic calendar of the day will contain no statistics, potentially influential on EUR/USD. In addition, many traders the US will be absent from the halls of the market because of a holiday (Presidents Day).

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