Currency Analyst since 2010

EUR/USD: daily update

It’s another day during which EUR/USD is trading in the $1.3700 area. Yesterday the pair met resistance in the $1.3735 area. We used to be thinking about the reversed ‘Head and Shoulders’ scenario – it will be negated though if euro falls below $1.3672 (April 4 low). Still, the lagging line of the daily Ichimoku indicator isn’t below the Cloud yet. Watch MACD at H4 to cross the 0 line for the confirmation to the upside. Above $1.3735 euro could rise to $1.3815, but resistance in the $1.3740 area looks strong.

Chart. H4 EUR/USD

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