Looking at the weekly chart of the EUR/USD currency pair its easy to say that its currently trading in some kind of a long term triangle pattern with the narrowing boundaries. Although, the upper boundary offers a strong resistance far below 1.5000 level, there is a high probability of the bullish breakout. Fundamental analysts talk about the inevitable dollars weakness that will come soon as the global economy starts to recover from the crisis. On the other hand, the U.S. dollar still remains a global reserve currency, while the euro still havent managed to gain the proper reputation, which suggest a bearish breakout in EUR/USD. And what do you think about it?
Will EUR/USD Reach 1.5000 Level Before September 1st 2009?
- Yes, it will reach 1.5000. (45%, 37 Votes)
- No, it won’t reach 1.5000. (43%, 35 Votes)
- I don’t know. (12%, 10 Votes)
Total Voters: 82
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If you have any additional comments regarding the way EUR/USD will trade in the next few months, please, feel free to reply using the form below.
