EUR/USD Price Analysis: Euro confirms the biggest quarterly gain since Q2, 2017
- EUR/USD closed the third quarter with a 4.3% gain.
- Euro remains suck in a decade-long descending channel.
EUR/USD ended the third quarter with 4.3% gains, the biggest single quarter percentage gain since the April to June period of 2017 when the currency pair rose by 7.14%.
However, despite the impressive quarterly gain, the pair is still trapped in a decade-long bearish channel.
A break above 1.19 is needed to confirm a long-term bullish breakout and allow a re-test of the February 2018 high of 1.2556.
On the downside, the September low of 1.1612 is the level to defend for the bulls. A violation there would shift risk in favor of a drop to the former hurdle-turned-support at 1.1495 (March high).
The pair is currently trading at 1.1725.
3-month chart
Trend: Bearish
Technical levels
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
-THE END-