The Euro Is Still Signaling Upside

Many traders and investors expected the Euro(EUR) to fall against the U.S. Dollar(DXY) after the Federal Reserve raised the fed funds rate earlier this month. Many so called market experts also thought that Euro would fall against the U.S. Dollar after the Trump tax cut passed, but that did not happen. In fact, the Euro is still firmly trading above the 1.18 level at this time. The current pattern in the EUR/USD chart is a bullish consolidation formation that indicates higher prices in the cards. The next major daily chart resistance level for the EUR/USD chart is around the 1.1970 level, but the larger time frame patterns suggest that a move to the 1.24 level is ultimately in the cards. This is why it is so important for traders to follow the charts.





Nicholas Santiago

InTheMoneyStocks