Econintersect: Christopher Lewis of FX Empire has a bullish alert for the EURUSD currency pair as the chart has seen a close above the 1.38 level. This represented breaking strong resistance and Lewis feels long-term bullish positions should be taken if the pair closes above 1.39. He feels that 1.50 is a possible upside once 1.39 is surpassed. He says, however, a turn back below the trend line would be “very negative”.
Chart is discussed in video after the Read more >> jump.
Sources:
- EUR/USD forecast for the week of March 10, 2014, Technical Analysis (Christopher Lewis, FX Empire, 08 March 2014)
- Draghi’s Upbeat Comments Send EUR/USD Sharply Higher (James Hyerczyk, FX Empire, 06 march 2014)
