FXstreet.com (Barcelona) – The EUR/USD extends further towards 1.3400, already up around 240 pips on the day as the dollar saw substantial weakening following disappointing jobless claims. The pair has most recently edged past resistance around 1.3340, and is pushing weekly highs at 1.3375.
Over the week, the EUR/USD has seen a pronounced recovery from 4-month lows touched over the weekend underneath 1.2900.
David Rodriguez of DailyFX suggests further gains giving a rundown of the indicators: “In detail, long positions are 15.7% lower than yesterday and 32.8% weaker since last week. Short positions are 15.4% higher than yesterday and 55.2% stronger since last week. Open interest is 1.9% stronger than yesterday and 8.2% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains.”