EUR/USD Price Analysis: The 21-day SMA near 1.2200 caps the upside
|- EUR/USD adds to recent gains and reaches 1.2190.
- Next on the upside appears the 2021 peaks around 1.2350.
EUR/USD extends the rebound to the vicinity of 1.2200, where the upside momentum eased a tad on Friday.
The upside faltered around the 21-day SMA in the 1.2190 region. A break above this level should pave the way for a potential move to 2021 tops around 1.2350 (January 6).
On the broader picture, the constructive stance in EUR/USD remains unchanged while above the critical 200-day SMA, today at 1.1626.
Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should underpin the continuation of the current trend in the longer run.
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.