UK markets close in 14 minutes
  • FTSE 100

    7,340.20
    +107.92 (+1.49%)
     
  • FTSE 250

    23,265.93
    +384.60 (+1.68%)
     
  • AIM

    1,198.62
    +18.59 (+1.58%)
     
  • GBP/EUR

    1.1771
    +0.0021 (+0.18%)
     
  • GBP/USD

    1.3237
    -0.0024 (-0.18%)
     
  • BTC-GBP

    39,090.25
    +2,083.09 (+5.63%)
     
  • CMC Crypto 200

    1,332.82
    +11.55 (+0.87%)
     
  • S&P 500

    4,687.24
    +95.57 (+2.08%)
     
  • DOW

    35,768.18
    +541.15 (+1.54%)
     
  • CRUDE OIL

    72.81
    +3.32 (+4.78%)
     
  • GOLD FUTURES

    1,783.60
    +4.10 (+0.23%)
     
  • NIKKEI 225

    28,455.60
    +528.23 (+1.89%)
     
  • HANG SENG

    23,983.66
    +634.28 (+2.72%)
     
  • DAX

    15,810.27
    +429.48 (+2.79%)
     
  • CAC 40

    7,061.92
    +196.14 (+2.86%)
     

EUR/USD Price Forecast – Euro Rallies Into The Weekend

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

The Euro has rallied a bit during the course of the trading session on Friday, as we continue to go looking towards the 1.1650 level. At this point in time, the market is likely to continue seeing this area around here as a magnet for price. If we can break out above the highs of the last couple of days, it is very likely that we would then see the market go looking towards the 1.17 level, right around where the 50 day EMA is. The 50 day EMA has been a significant technical indicator that a lot of people will pay attention to, as it has caused a bit of resistance in the past.

EUR/USD Video 25.10.21

To the downside, the 1.16 level course is an area that I think will offer quite a bit of attention, because quite frankly the market has been quite a bit of action in that general vicinity, and if it does not hold, that could open up the Euro for significant selling pressure to go looking towards the 1.15 handle. That of course is a large, round, psychologically significant figure that will be interesting to follow, but opening up a potential significant selloff if we do get down below there.

The US dollar has been struggling in general, but the Euro has most certainly been a laggard in comparison to its competitors. With this being the case, I think that you can use this chart as more last an indicator, at least of what is going on with the greenback. As far as buying the Euro I just do not have any interest in doing so.

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire

More From FXEMPIRE:

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting