Yahoo Finance Euro Performing Well as Tests Continue
The Euro could see volatility as the holiday season approaches, but it continues to exhibit solid momentum.
Euro Tracking Upwards Today
The Euro has begun to track upwards this morning and has climbed over the 1.18 level against the U.S Dollar. The question investors want to know, is if the Euro will be able to hold onto its value this time and avoid another short-term crisis?
There are always fights for range as a currency trades, and the Euro has certainly faced a battle in the last two weeks.
Euro’s Mid-Term Push Higher
A look at a mid-term chart shows the Euro has the capability of gaining additional value, even after this morning’s gains.
The upcoming holiday season may make the Euro vulnerable to thin trading volumes, which could cause sudden volatility in the coming days. However, the Euro continues to stay within its higher range and has shown the ability to fight back against headwinds.
Signs of Sustained Euro Momentum
Support for the Euro appears firm around 1.1745. And a long-term chart of the Euro against the U.S Dollar shows momentum is still on the side of the Euro.
The Euro is certain to face additional tests in the coming days and weeks, but we continue to believe it has room to add value and test the 1.19 juncture.
In the short term and mid-term, we believe the Euro may be positive. In the long-term we are unbiased.
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire
