EUR/USD Update – 20/09/2017 (11:40am) – by Arjun Lakhanpal

EUR/USD Update – 20/09/2017 (11:40am): EUR remains in an uptrend even with ECB sources trying to talk it down.. EUR/USD continues to hold over the 5 month uptrend at 1.1841. While this holds we remain unable to rule out an extension to the 50% retracement from the move down from the 2014 high at 1.2168 and the 1.2372 200 month MA, but if seen, that is expected to hold. It should be noted that we consider this to be the end phase of the bull trend. It should also be noted that we consider the chance of a trend break as high.