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Trading news
27 Feb 2020
EUR/USD Price Analysis: Recovery now targets the 1.0980 area
- The upside momentum in EUR/USD extends further north of 1.0900.
- Immediately above emerges the 1.0980 region, November 2019 low.
EUR/USD extends the weekly recovery further and is looking to consolidate the recent breakout of the key barrier at 1.09 the figure.
The pair left behind the “oversold” territory - as per the RSI indicator – and moved up on the back of the correction lower in the greenback.
If bulls manage to remain in control, then the 1.0980 region (November 2019 peak) should return to the radar as the next key target.
EUR/USD daily chart
