EUR/USD Price Analysis: Further upside targets 1.2180
|- EUR/USD adds to recent gains beyond 1.2100 the figure.
- Extra gains could see the monthly tops around 1.2180 retested.
EUR/USD extends the rebound from weekly lows in the 1.2050 region to levels past the 1.2100 level on Friday.
The ongoing context allows for the continuation of the uptrend, at least in the very near-term, with the next hurdle at the so far monthly tops in the 1.2180/85 band (May 11). Above this level, the February’s high at 1.2243 emerges as the immediate resistance for EUR-bulls.
The constructive stance on EUR/USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1951.
EUR/USD daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.