EURUSD set to extend rally to 1.25 – Natixis

Micaella Feldstein, Research Analyst at Natixis, suggests that risks remain on the upside for EURUSD pair as bullish parallels are still intact on the daily chart and as an bullish bubble has emerged on the weekly chart.

Key Quotes

“Against this backdrop, we see dips as corrective and favor a new leg higher.

“The cross could even push higher to 1.2588 (quarterly parabolic). Only a drop below the supports at 1.2090-1.21 would undermine our bullish view. The supports stand at 1.2280, at 1.22-1.2212, at 1.2150-1.2165, at 1.2090-1.21, at 1.1994-1.2009, at 1.1870-1.1882 and at 1.1780.”