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EUR/USD update (21st April 2017, 12:00)

EUR/USD pushing higher once more.

EUR/USD pushing higher once more.

EUR/USD experienced a particularly volatile day yesterday, as the initial uptrend-driven rally was undermined by comments from the US Treasury Secretary, Steven Mnuchin, and Donald Trump regarding tax reforms and the healthcare bill. Despite this giving the dollar a boost, we have seen the price action remain above the $1.07 swing low.

As such, the uptrend remains in play until we break below that level. The inability to create a new higher low on the stochastic is a bit of a worry, as this is signaling a waning momentum. However, for now, it looks like we still have a good chance of remaining within the uptrend, with the recent pullback simply providing a deeper entry.


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EUR/USD update (21st April 2017, 12:00)

EUR/USD pushing higher once more.

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