Despite disappointing PMI readings in the Europe today, the EUR/USD surged above the Fibonacci barrier and advances near its fresh weekly high of 1.2867 posted early Asian session. In Europe, EU leaders will likely discuss Greece situation in today’s summit, despite is not on the agenda, leading to the usual market talks and “leaks” that will add some spice to markets today. The US markets will remain closed on Thanksgiving holiday.
Having broke above afore mentioned Fibonacci level, immediate support now around 1.2840, the pair continues to be biased higher, supported not only by market sentiment yet also by technical readings as momentum heads north above 100. As long as above 1.2840 the advance will likely extend towards 1.2890/1.2900 level, former static support and 50% retracement of its latest bearish run.
Risk to the downside comes on a break below 1.2820/30, towards 1.2770 price zone.
View Live Chart for EUR/USD
Having broke above afore mentioned Fibonacci level, immediate support now around 1.2840, the pair continues to be biased higher, supported not only by market sentiment yet also by technical readings as momentum heads north above 100. As long as above 1.2840 the advance will likely extend towards 1.2890/1.2900 level, former static support and 50% retracement of its latest bearish run.
Risk to the downside comes on a break below 1.2820/30, towards 1.2770 price zone.
View Live Chart for EUR/USD
