- Analytics
- News and Tools
- Market News
- EUR/USD could extend the rally towards 1.1040/1.1080 on a break past 1.0940 – SocGen
EUR/USD could extend the rally towards 1.1040/1.1080 on a break past 1.0940 – SocGen
EUR/USD has extended its up move after breaking above the December high of 1.0730. Economists at Société Générale note that the pair could target the 1.1040/1.1080 area.
Break of 1.0940 brings 1.1040/1.1080 in play
“Daily MACD has turned flattish and is at a much lower level as compared to the highs achieved in November denoting receding upward momentum. This is not a reversal signal however a pause is not ruled out.”
“December high of 1.0730 is near-term support.”
“In case the pair crosses 1.0940, the up move could extend towards 1.1040/1.1080 and April 2022 high of 1.1185.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
