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
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- U.S. Dollar Falls Against Majors • RTTF2 • 05/03/2024 01:59:53 AM
- U.S. Dollar Drops To 4-day Low Of 1.3655 Against Canadian Dollar • RTTF2 • 05/03/2024 01:34:52 AM
- U.S. Dollar Down After Weak ISM Manufacturing PMI, Job Openings Data • RTTF2 • 05/01/2024 01:17:25 PM
- U.S. Dollar Rises As Asian Markets Traded Lower • RTTF2 • 05/01/2024 02:57:07 AM
- U.S. Dollar Rises Against Majors • RTTF2 • 05/01/2024 02:27:14 AM
- U.S. Dollar Appreciates As Employment Costs Jump • RTTF2 • 04/30/2024 12:50:31 PM
- Euro Rises On Strong Eurozone Economic Data • RTTF2 • 04/30/2024 06:32:51 AM
- Euro Rises Against Majors • RTTF2 • 04/30/2024 06:05:42 AM
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