Euro

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities & stocks into the weekly open.

EUR/USD has gained more than 12% from the January lows, and a shooting star on the weekly combined with overbought RSI make for an interesting backdrop.

There’s been only pause in the rally behind EUR/USD over the past few months, but the pair is now encountering a major level of note at the 1.1500 handle.

The Euro breakout extended to fresh multi-year highs with the bulls struggling into technical resistance near 1.15. Battle lines drawn on the EUR/USD weekly chart.

Over the past five trading sessions, EUR/USD has shown consistent strength, climbing more than 2% and successfully breaking through the psychological 1.15000 level, while the U.S. dollar continues to weaken in the short term.

EUR/USD stalled by the pair has held up better than both EUR/JPY and EUR/GBP. This article looks at the single currency in three pairs for the week ahead.

EUR/USD is overbought on the weekly and sellers had an open door to drive a deeper pullback earlier this week. But, so far, they’ve failed to push through the first area of support at the 1.1275 Fibonacci level.

Over the past two trading sessions, EUR/USD has shown consistent weakness, falling by more than 0.5%, as the U.S. dollar regains strength.

It was a strong week for EUR/USD even with the European Central Bank expected to cut rates again at next week’s rate decision.

EUR/USD is back above the 1.1000 level and threatening a larger break. So far the pair has carved out swings around psychological levels and that puts the focus back on 1.1000.

EUR/USD has broken out to a fresh five-month-high but the question of trend is now whether buyers show up to hold higher-low support on pullbacks.