EUR/USD Pushing Higher Ahead of ECB Statement

Published on Thursday, 07 September 2017 09:42 ,by  FxGrow Investment Research Desk



EUR/USD is currently energized with +53-pips price action at the moment and 1.1967 high, before ECB releases Interest Rates, followed by Draghi Speech with expectations for dovish tone by the Gov. and extending Quantitative Easing program beyond 2017, but market should be opened to all scenarios.

EUR/USD Technical Overview:

Current Price: 1.1959

Closing Price: 1.1916

Target: None

Resistance levels: 1.1987 , 1.2050 , 1.2080

Support levels: 1.1870, 1.1830 , 1.1785

Range Reversal: 1.18305

Comment Overall the market is short term bullish. Only a close under 1.18335* or drop under 117865 alerts for short term topping and selloffs to reach under 11680-. Sideways action favors a creep higher, but a close over 11987* is needed to rekindle the bull trend to attack for a new high. 

 

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