The EUR/USD pair kept rising at the end of the week to close at 1.1621, its highest levels since August starts. The reason of this rally was of broad dollar’s weakness, which was caused by US President Trump comments regarding the cheaper dollar. He said that hike rates is a good sign of positive economics.
After the US Durable Goods Report was released the dollar turned out under pressure.
Technically, EURUSD rebounded from 61,8 Fibo level and broke the 200 MA as a resistance. Cayman indicators shows 40% of buyers, it is the normal values. Generally, it means that USD may keep on staying under the bears’ pressure.
On this week we will be waiting for GDP data, which will be published on Wednesday.
Dow Jones index has gained on Friday 0.5% or 3.2% away from its record close on January last days. The index is now extending the upside again on the way to new resistances. However, the technicals are mostly bullish with daily RSI headed to overbought zone.
Technically the price is located near the upper line of the uptrend channel that probably indicates on the correction
So our targets for:
EURUSD – is buying to 1,17
DOWJONES (USA30) – set a sell limit from 26000