The EUR/USD continued to break higher closing above trend line resistance and poised to test the June and May highs a 1.1380, and 1.1490. Momentum
The EUR/USD continued to break higher closing above trend line resistance and poised to test the June and May highs a 1.1380, and 1.1490. Momentum remains positive with the MACD (moving average convergence divergence) index printing in the black with an upward slowing trajectory that is pointing to a higher exchange rate.
Support on the currency pair is seen near the 10-day moving average at 1.1130. With the 10-day moving average crossing above the 100-day moving average, a up trend is now considered in place. The selloff in U.S. stocks has led to lower U.S. yields which are eroding the value of the greenback.
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.
