EUR/USD - Challenged 1.0910 Level and Hit Our Suggested Target! - 08/03/2017 (GMT)

The common currency pair posted a new 31-month high at 1.1910 price level during yesterday’s trading period, however, it failed to end the session above the 1.1870 strong barrier. The EUR/USD pair challenge our recommended target at 1.1870 (see technical analysis here: http://bit.ly/2vis6hl and our expectation is a bullish run until the 1.2040 resistance obstacle. Currently, the price is trading near the 50-month SMA, so, a correction is possible if the pair fails to climb above it. Despite that, the price rose above the 200-week SMA and is posting the forth positive week, adding at its performance almost 4%.

On the daily timeframe, the MACD oscillator is rising above both its trigger and zero lines with strong momentum, whilst the RSI indicator is developing within the overbought zone, above the 70 level. Both are endorsing the scenario for more rising movement in the next sessions.