The EUR/USD is catching some minor lift but mostly flat for Friday near 1.0600. Broad market sentiment is seeing an improvement heading into the close, pushing down the US Dollar. Next week to open quiet before a double-header PMI reading for both the EU and the US on Tuesday. 0565 before catching a choppy lift into the 1.0600 handle. The Euro caught a lift higher on Thursday, pinging 1.
EUR/USD Technical Outlook The Euro is seeing some sideways momentum develop on the daily candlesticks, with the descending trendline from 1.1275 creating some rough chop on the charts, and topside pressure from the descending 50-day Simple Moving Average currently dropping through 1.0700. Bidders will have a difficult time getting past the last swing high into 1.0650 if momentum doesn't develop soon, and the 200-day SMA is rolling over into a bearish stance just north of 1.0800.