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The euro has moved sharply higher against the greenback, reaching 1.2068 against the U.S dollar, following the release of a more hawkish than expected ECB Meeting Minutes. The Meeting Minutes revealed that members of the European governing council may start to change ECB guidance in 2018, to represent the continued economic recovery underway in the eurozone. The EURUSD pair currently trades around the 1.2040 level, with buyers now looking to the 2017 price-high, at 1.2093, as bullish momentum continues to build in the euro ahead of the European trading session.

 

  • The EURUSD pair is strongly bullish while trading above the 1.2030 level, further upside towards 1.2093 and 1.2150 remains possible.

  • Should price-action on the EURUSD pair move below the 1.2030 level, sellers may start to target the 1.2010 and 1.1989 support zones.

 

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