Technical analysts point to Ichimoku cloud analysis suggesting that the euro could reach $1.40 if it manages to break current resistance levels.
Ã¢â‚¬Å“The top of the cloud and the conversion line are current resistance,Ã¢â‚¬Â said Toshiya Yamauchi, a senior currency analyst in Tokyo at Ueda Harlow. Ã¢â‚¬Å“Once the euro breaks these lines and rebounds to the base line, it will try higher.Ã¢â‚¬Â The base line stands at $1.3865.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.