Short-term bullish signal in euro/dollar
The bounce could take the pair to 1.2888
Technical analysts at Digital Look on Monday highlighted how the trend in the euro/dollar over the last few months continued to be bearish, noting that the pair had been setting successively lower lows and highs since the beginning of October.
“The currency pair is clearly rebounding within a bearish trend channel, we're watching 1.2888 resistance and 1.2622 support as the nearest control levels,” they said.
They added that a move above 1.2888 might open the door to further gains to around 1.30 or even 1.31.
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