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Forex pairs in this Article » EUR/USD (Barcelona) - The EUR/USD continued its overall bullish trading by posting a gain and setting new short-term highs Thursday.

EUR/USD to be driven by momentum and data flow Friday

The EUR/USD continued its recent upside ride Thursday despite net neutral PMI numbers from the various reporting countries. The strength in EUR/USD really came from the relative weakness in the greenback following poor jobless claims and manufacturing PMI data of its own.

Friday, traders will be monitoring the news from Europe and the US including: EU Council Meeting; German Expectations; German Current Assessment; US Durable Goods; and, the US University of Michigan Consumer Sentiment Survey.

Technical outlook for EUR/USD

The EUR/USD has surpassed the short-term upside target of 1.3750 and now really has no real resistance until the horizontal line resistance at around 1.3900. Support for the cross starts at Wednesday’s low of 1.3740 and is followed up by Monday’s low of 1.3650.
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