Broad-based U.S dollar weakness has been the main contributing factor behind the euro’s gains. OctaFX has shared its 15 January EURUSD Bullish Technical Forecast for more details on the bullish momentum of the pair.
15 January, OctaFX – The euro continues to make strong gains against the U.S dollar, with the pair moving a new three-year high, hitting 1.2237 during early Asian trading. After breaking above the 1.2093 level last week, the EURUSD has gained strong bullish momentum, with the pair easily breaking above the 1.2156 and 1.2200 technical levels.
Broad-based U.S dollar weakness has been the main contributing factor behind the euros early gains on Monday, with the greenback falling towards levels not seen since 2015.
15 January EURUSD Bullish Technical Forecast
The EURUSD pair remains strongly bullish while trading above the 1.2200 level, further upside towards 1.2250 and 1.2310 seems possible.
Should price-action move below the 1.2200 level, downside support for EURUSD is currently found at 1.2156 and 1.2093.
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