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EUR/USD Value Evaluation: Rally has additional legs to go

  • EUR/USD advances to new highs within the 1.1475/80 band.
  • Bulls now face the 100-day SMA close to 1.1510.

EUR/USD beneficial properties additional floor and briefly visited the 1.1480 area on Thursday, up for the third session in a row and recording new 2-month highs.

Additional upside now seems doubtless contemplating the latest worth motion, with the following goal on the 100-day SMA at 1.1508 forward of the extra related hurdle on the 200-week SMA at 1.1516. If the shopping for curiosity picks up additional impulse from right here, then a transfer to October’s excessive at 1.1692 ought to begin shaping up sooner relatively than later.

The long term destructive outlook for EUR/USD is seen unchanged whereas beneath the important thing 200-day SMA at 1.1733.

EUR/USD each day chart

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