Euro Continues to Rise Gradually

The single European consolidated its gains against the US dollar, continuing its gradual rise to the upside. On the technical side, with the pair moving inside the bullish price channel shown on the chart, in addition to the positive stimulus from the simple moving averages.

This encourages us to keep our positive outlook towards our second target 1.1960 / 1.1970, bearing in mind that confirming the breach of 1.1970 extends the pair’s gains, so we will be awaiting touching the resistance of the psychological barrier of 1.2000.

On the downside, the price’s stability once again below the 1.1860 support level delays the chances of the upside but does not cancel it.

S1: 1.1890	R1: 1.1970
S2: 1.1860	R2: 1.2010
S3: 1.1820	R3: 1.2050