FXstreet.com (San Francisco) - Despite the late decline, the Euro closed on Friday its four of five positive day this week with around 270 pips advance since Monday October 1st low of 1.2802 to 2-week highs at 1.3070 reached in the early Friday's American session.
EUR/USD finished the week at 1.3027 and the TD securities team sees the the near-term bias for EUR/USD as "likely to remain stronger." In the short term, the charts "suggest steady accumulation of EUR on dips through late September and early October, forcing the EUR out of the topside of the bear channel that guided the market down from the high 1.31 zone." And that looks "like a bull flag break-out (550-600 ticks of upside potential implied)."
"Trend momentum studies are EUR-bullish across a range of time frames, which suggests more upside and (possibly very) limited downside for EUR/USD in the near future."
EUR/USD finished the week at 1.3027 and the TD securities team sees the the near-term bias for EUR/USD as "likely to remain stronger." In the short term, the charts "suggest steady accumulation of EUR on dips through late September and early October, forcing the EUR out of the topside of the bear channel that guided the market down from the high 1.31 zone." And that looks "like a bull flag break-out (550-600 ticks of upside potential implied)."
"Trend momentum studies are EUR-bullish across a range of time frames, which suggests more upside and (possibly very) limited downside for EUR/USD in the near future."
