Friday, April 14, 2017

EUR/USD Bouncing Back Modestly Following Thursday’s Decline

 

EUR/USD is up 0.11% in today’s trading, holding near the 1.0623 level. The pair reached a new high for the week at 1.0678 on Thursday, but failed to sustain the advance and fell to 1.0609 for a low.

With the Stochastic moving higher but still in oversold territory, it appears that Thursday’s move to the downside may have represented a temporary event, and that further gains are likely.


Resistance is at the mid-point of Thursday’s long red candle, near the 1.0636 level. A break above this level would leave the target at Thursday’s high.......(full story)

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