The Euro has claimed it first estimated target against the U.S. dollar and breached the borderline at 1.0865 as per my forecast and could be ready for its next run. The Euro didn't take long to bounce back after securing its support base at around 1.08062 and pushing prices up with higher lows to 1.0865.
My long term indicator has turned positive, supported by a massive surge in volume in the last couple of days is a sign that the pair has entered a new trend. However, there are other factors to consider, such as the rise of coronavirus in European countries which could drive the Euro down and provide an advantage to the U.S. dollar as investors run to safe-haven currencies.
The Euro needs to maintain trading activities above 1.0865 to continue to the upside. The next target to the upside is estimated at 1.09345
My long term indicator has turned positive, supported by a massive surge in volume in the last couple of days is a sign that the pair has entered a new trend. However, there are other factors to consider, such as the rise of coronavirus in European countries which could drive the Euro down and provide an advantage to the U.S. dollar as investors run to safe-haven currencies.
The Euro needs to maintain trading activities above 1.0865 to continue to the upside. The next target to the upside is estimated at 1.09345
