It broke out above 1.1100 and it remains bullish, I wouldn't be surprised if it rallies to 1.1150.

It continues surging north and by the looks of it the pair may even rally to 1.1300.

mlawson71 wrote: Thu Jun 04, 2020 11:25 pm It continues surging north and by the looks of it the pair may even rally to 1.1300.

Blasting to the skies!

EUR/USD Update

1.1400 Option BARRIER should be triggered for a retrace to 1.1077 in extension 1.1007
EURUSD Projection is printing 1.1495, but a ratrace from 1.1401 to 1.1077 in extension should be before.

Supports are 1.1272 and 1.1264

It's possible. I think the overall target is the last high at 1.1500 though.

It's consolidating sideways at the moment and it is very undecided. We'll have to wait and see how it develops.

The pair is slowly inching upward toward 1.1300, but I think that so far that is just part of the correction after the rally.

EUR: beating the USD so far

At the beginning of Thursday, we were not sure whether the EUR/USD would hold ground at the level 1.1000 which is was testing during the day. Eventually, not only it managed to hold but firmly broke it to rise to 1.1100 and above. Currently, the nearest bullish target is the lower March resistance of 1.1140. Will the EUR/USD have enough strength to beat it?

There is a probability for that knowing that the EUR is pushed by the economies recovering and financial aid on the table of the European Commission. However, as the US-China tensions keep increasing, the USD may get the upper hand on risk-off moods given the coming announcement Donald Trump promised to make on the subject before this weekend. So a reversal is possible to get EUR/USD back down as well. Watch that closely and trade wisely!


Source: https://fbs.com/analytics/news

Jumbo wrote: Fri Jun 05, 2020 7:41 pm EUR/USD Update

1.1400 Option BARRIER should be triggered for a retrace to 1.1077 in extension 1.1007
EURUSD Projection is printing 1.1495, but a ratrace from 1.1401 to 1.1077 in extension should be before.

Supports are 1.1272 and 1.1264

After triggerting the Barrier of 1.1400 we got a nice retrace to 1.1208. I still expect a retest of 1.1320 and see a new lower lows to 1.1140 and 1.1007 and we can resume it's downtrend to 1.0654. Weekly closing below 1.1285 is a good signal for further selling.

EUR/USD rallied after bouncing off from 1.1170, but I don't think that for now the correction is over.