The EUR/USD has climbed steadily through all of our trend lines, 1.40, and is currently trading just above May 22 highs. This is a very bullish move, and it appears the currency pair is on the verge of a near-term breakout to the upside. The key will be sizable volume backing today's movement. Today's gains come despite a lower than expected CPI reading from the EU, meaning traders are feeding off of a strengthening S&P. Investors also saw stronger than expected German retail sales and M3 money supply.
0 comments:
Post a Comment