The Euro continued its weekly dominance against the dollar hitting the 1.2790 - a 52-week high. A squeeze beyond this resistance may lift the euro to 1.3085, our subsequent target. Macroeconomic conditions favor a weaker dollar with an anticipatory Fed pause in rate hikes, whilst ECB and BoJ are primed to raise rates.
Recommendations:
Buy supports down to the 1.2300 level as the daily trend is bullish. Take profits at meaningful resistance levels.