EUR/USD starts the Friday morning with increases. If demand keeps even a small profit until closing the day, it will be the sixth consecutive bullish session. The bulls would have recorded a set of 5 days in the week closed in plus. Both technicals and fundaments favor further growth. This week we had some important macroeconomic data and finally the euro comes out victorious (in relation to the dollar).
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As risk factors, I would include test of the previous high, which supports correction and Friday – the last day of the week in which profits may be booked. The monthly chart looks interesting, where you can see the dominance of buyers. The price has been moving in a bearish channel for many years. Although historical quotations may not have much in common with what is currently happening, in the short-term historical support, resistance or trend lines may support adjustments. Regardless of whether the correction will take place today, it seems that the price should reach the upper edge and the resistance zone in the region 1.2660 – 1.2700.
