EUR/USD in a short-term uptrend on the Daily Chart

usd_eur_news_1The most traded forex pair exploded higher after the speech of Mrs. Yellen, and got back above 1.13 again for the first time since the terror attacks in Brussels. The 96.2 reading of the CB Consumer Confidence Index might mean that the U.S. consumers will continue to support the local economy, and that should be a good sign for the Dollar on the long-run. However, currently the pair looks ready to rise even further, probably up to 1.145.

Our assessment: The Euro might be among the biggest winners of the week as the short-term picture looks bleak for the Dollar. The first resistance that could come into play is at 1.137.

30mar2

 

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