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Will EUR/USD Reach 1.5000 Before September?

July 20, 2009 by

Looking at the weekly chart of the EUR/USD currency pair it’s easy to say that it’s currently trading in some kind of a long term triangle pattern with the narrowing boundaries. Although, the upper boundary offers a strong resistance far below 1.5000 level, there is a high probability of the bullish breakout. Fundamental analysts talk about the inevitable dollar’s weakness that will come soon as the global economy starts to recover from the crisis. On the other hand, the U.S. dollar still remains a global reserve currency, while the euro still haven’t managed to gain the proper reputation, which suggest a bearish breakout in EUR/USD. And what do you think about it?

Will EUR/USD Reach 1.5000 Level Before September 1st 2009?

  • Yes, it will reach 1.5000. (45%, 37 Votes)
  • No, it won't reach 1.5000. (43%, 35 Votes)
  • I don't know. (12%, 10 Votes)

Total Voters: 82

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If you have any additional comments regarding the way EUR/USD will trade in the next few months, please, feel free to reply using the form below.

3 Responses to “Will EUR/USD Reach 1.5000 Before September?”

  1. Ron Harmon

    There is a Huge BULL Pennant formed from Thursdays Hi and Low with Fridays close.

    This looks like a go.

    Happy PIPS

    Reply

  2. Alin

    Today it broke the 1.4357 fibonacci resistance.
    If the pair will build strong momentum in the next days, and not giving signs of bouncing back, I think it will reach the 1.5000 level.

    Reply

    Andrei Reply:

    Fortune favors the bold, doesn’t it? :-)

    Reply

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