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Filtrar por etiquetas:  Shallow Pullback
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EURo stalls at the 2015 trendline

After ten days of declines during which it fell more than seven cents (700 pips), the euro paused at the trendline drawn off of 2015 lows. The pullback has so far been less than one cent but traders may step up covering if the move stalls further.
Buying may accelerate if the pair trades through the immediate resistance between 1.0650 and 1.0675. On the other hand, a daily close below 1.0575 could lead to continuation of the downtrend, targeting last year's lows, 1.0520 and 1.0460.
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EURo starts the week and the month well

Euro started the week and the month on a bullish note. It has been rising right from the open with so far shallow pullbacks. It is back above 1.09 and approaching the declining 2014 - 2015 trendline.
Unless the pair turns sharply lower soon, the trendline will inevitably give way and this may lend bulls enough confidence to continue buying into 100 and 200 DMA. Ability to get and hold above 1.10 will be crucial though.
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