With pressure building in the form of an ascending wedge just beneath strong resistance the euro is on the cusp of a breakout. There is a good amount of resistance in the area around 11720/50 which needs to be cleared through first before momentum has a chance at picking up.
EUR/USD Live
Dollar Index Now Down By More Than 0.2%
Gold Silver Reports (GSR) – Dollar index now down by more than 0.2% – And it is falling below the 38.2 retracement level @ 93.81 as highlighted earlier here. The continued selling momentum in the dollar following the US jobs report extends to the new week. EUR/USD just touched a session high of 1.1781 while the dollar is at the lows against the aussie, swissie, and sterling as well.