Monday, April 24, 2017 11:55:44 AM
Since the start of 2017 the Euro has been climbing higher against the U.S. Dollar. On January 3, 2017 the EUR/USD traded as low as 1.034. Today, the EUR/USD is trading around 1.0865. The EUR/USD has been making higher lows on the daily chart and that is usually a sign of higher prices to come in this currency pair.
How high is the EUR/USD going to trade? Well, the current chart pattern signals a potential move in the EUR/USD to around the 1.1040 level. This should complete the rally that started in January. This level in the EUR/USD should also lead to a very good shorting opportunity. Traders that want to try a short trade in the EUR/USD can use the ProShares UltraShort Euro (NYSEARCA:EUO). The downside target for the EUR/USD is for a move to the 1.02 level.
Nicholas Santiago
Recent EURUSD News
- U.S. Dollar Strengthens On Strong Retail Sales Data • RTTF2 • 09/17/2024 01:50:38 PM
- U.S. Dollar Slides Amid Fed Rate Cut Speculation • RTTF2 • 09/16/2024 03:21:55 AM
- U.S. Dollar Slides To 10-day Low Of 1.3163 Against Pound • RTTF2 • 09/16/2024 01:30:32 AM
- U.S. Dollar Extends Decline Against Majors • RTTF2 • 09/13/2024 11:51:35 AM
- U.S. Dollar Weakens, Yen Rises Amid Fed Rate Cut Expectation • RTTF2 • 09/13/2024 02:43:27 AM
- U.S. Dollar Falls Against Majors • RTTF2 • 09/13/2024 02:00:59 AM
- Dollar Loses Ground As Inflation Data Raises Rate Cut Bets • RTTF2 • 09/12/2024 05:07:10 PM
- Euro Advances Against Most Majors • RTTF2 • 09/12/2024 11:52:35 AM
- U.S. Dollar Rises Ahead Of Inflation Data • RTTF2 • 09/09/2024 11:52:16 AM
- U.S. Dollar Rebounds After Jobs Report • RTTF2 • 09/06/2024 12:44:40 PM
- U.S. Dollar Lower As Soft ADP Data Increases Odds Of Aggressive Rate Cut • RTTF2 • 09/05/2024 11:23:40 AM
- Euro Rises Against Majors • RTTF2 • 09/05/2024 07:16:14 AM
- Dovish Fed Comments, Weak Job Openings Data Send U.S. Dollar Down • RTTF2 • 09/04/2024 02:12:47 PM
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