EUR USD technical analysis-medium term targets 1.12-1.1555

EUR USD technical analysis-medium term targets 1.12-1.1555 Eur usd on weekly chart forming bullish harami pattern which is buy signal for medium term investors. After brexit we saw sharp fall and low of 1.0880 and smart recovery thereafter on buying as well as short covering.   The Latvian government on June 28th approved the Economics Ministry proposals for granting additional EUR 2.5 million to the government. In economic news, the Euro-zone’s import price index rose more-than-expected by 0.9% MoM in May, following a 0.1% drop in the previous month.   Technically this move is buying opportunity for investors and we can expect eur/usd targets around 1.12 and then 1.1555 in next 2 weeks to 2 months. On downside euro has strong support at 1.1025 and then 1.0965.   ECB’s Draghi concerns euro exchange rate watchers by dodging Brexit issue. Where next for the euro to dollar conversion rate in the latest. In economic news, the Euro-zone’s private sector loans edged higher by 1.6% YoY in May, following a 1.5% rise in the previous month.   Euro dollar monthly chart also showing bottoming out of euro and in upcoming 2 to 4 months’ time frame expect new high above 1.1635 which was high level of May 2016.

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Pramod Baviskar

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