fxstreet.com 16 Feb, 2021 06:30 am

Crude oil price soars amid a Norwegian port strike

Crude oil price soars amid a Norwegian port strike
The euro held steady against the dollar as traders wait for the important EU GDP data that will come out at 11:00 GMT. Economists expect data to show

The EUR/USD rose to an intraday high of 1.The pair rose to an intraday high of 1.The USD/JPY pair rose to an intraday high of 105.It has also moved above the 21-day and 14-day exponential moving averages (EMA) while oscillators like the Relative Strength Index (RSI) are also rising.

On the four-hour chart, the price is above all moving averages and is on the upper side of the Bollinger Bands.The pair seems to be forming a small cup and handle pattern and is slightly above the short and long term moving averages.

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