EUR/USD 1.4483

Despite traders seem to have left early this weekend, and forex market seems already close due to the lack of volume, EUR/USD holds steady near the 15-month high set today at 1.4545. While usually on Friday’s following a week with large gains as euro posted this one are days of profit taking and at least contrarian corrective movements, investors seem to expect fresh highs for the upcoming week.

According to Fan Yang from FXTimes, 1.5140 target might open un next week, if the pair manages to overcome the 1.4500 price zone. As he says, “the EUR/USD is heading into a zone of heavy resistance, but seems unabated so far”, adding that mentioned 1.4500, represents the 200% extension of an inverted Fibonacci. He finally adds: “We should not consider the bearish outlook until a break below 1.4250. Correction from 1.45 might turn into sideways action between 1.4250 and 1.45”.

source: fxstreet.com