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Collins: Why I'm bullish on EURUSD
Alan Collins from 3c Analysis is looking to buy the EURUSD as the bullish momentum for the euro is expected to continue.
On Thursday the euro hit its highest level in 2½ years at USD 1.3967. The currency’s strength has been fuelled by the recovery in the euro zone. Meanwhile, bad weather, disappointing economic data, and the Ukrainian crisis have driven the dollar lower. The dollar is currently at its lowest level in over four months and the market sentiment is fearful as investors await Janet Yellen’s policy review.
Alan forecasted that the EURUSD would hit higher levels earlier in the week, which is why he is targeting USD 1.3967, USD 1.4002, and USD 1.4009 . He cautions that a dip below the USD 1.3853 mark could jeopardize the trade.
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00:52 minutes
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