EURUSD: Weekly Forecast
EURUSD climbed higher at the beginning of the week but fell into a range for the last 3 trading days.
It, however, manage to maintain a bullish structure while constantly find support at 1.2170.
The price is currently trading within a rising channel and stands above all moving averages too.
It was noted that both manufacturing and services sector was on a positive note with PMI readings well above 50 but ECB President has reiterated its commitment to adopt its PEPP well into 2022.
This week, we will continue to look for buying opportunities while expecting a deeper pullback towards the 1.20 psychological level should the price break below the current rising channel.
It, however, manage to maintain a bullish structure while constantly find support at 1.2170.
The price is currently trading within a rising channel and stands above all moving averages too.
It was noted that both manufacturing and services sector was on a positive note with PMI readings well above 50 but ECB President has reiterated its commitment to adopt its PEPP well into 2022.
This week, we will continue to look for buying opportunities while expecting a deeper pullback towards the 1.20 psychological level should the price break below the current rising channel.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.