The EUR/USD pair has rallied significantly during the trading session on Wednesday, reaching towards the 1.18 level. I suspect that we will continue to see bullish pressure, but a short-term pullback might be necessary to build up the momentum to break above the 1.18 handle. I think that the market should continue to be bullish in the short term and could get super charged if the Italians come to some type of consensus. Beyond that, there is talk of the ECB leaving quantitative easing sooner rather than later, so that could put upward pressure on the Euro as well. Even so, we are oversold, and the 1.15 level is massive support. I think that the bounce makes sense, and the hammer on the weekly chart was the first hint that we were ready to continue to go higher.
Translate to Inglese Show original

Since you are not logged in, we don't know your spoken language, but assume it is Inglese
Please, sign in or choose another language to translate from the list.

– o –