Forex Flash: EUR/USD outlook still points to 1.12

Forex Flash: EUR/USD outlook still points to 1.12

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Forex Flash: EUR/USD outlook still points to 1.12 - TD

FITITOL--> FXstreet.com (San Francisco) - EUR/USD last trades at 1.2655 ahead of the closing bell in New York vs. 1.2441 late Thursday, poised to record a 1.7% gain on the day and a 0.8% gain for the week.

From TD Securities: “Weekly candle patterns do look a bit more EUR-positive â€" a bullish piercing line” â€" but the weekly doji from mid-June and last week’s bearish “engulfing line” still constitute important negative signals for price. Above 1.2747, EUR/USD may trade back towards the top of the broad, bear channel at 1.2933. Bigger picture, patterns (long-term HS bear reversal) still point to 1.12 eventually (12-18 months out).”