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EURUSD Above 2019 High, Points Upward

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The Forex Attack Team researches and publishes thought-provoking news, analysis, and opinion pieces on the global financial markets. We provide in-depth coverage of forex, commodities, and indices.

The EURUSD pair is trading above the 2019 high with the 50 EMA continuing to separate from the 100 SMA. On the daily chart the 50 EMA has just pushed up through the Pivot point at 1.1251 and is pointing toward higher gains. The current price is above the 15 period R2 level.

The 2019 high and R2 are almost directly in line, less than 4 pips appart, which may add an additional level of support if the price begins to retrace.

EURUSD Daily Chart

The US dollar continues to experience weakness, which is also propelling the euro higher. We anticipate that the EURUSD pair will push toward the 1.22 level, a major supportive level in 2018, by the end of the year.

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