EUR/USD: a close above this moving average would be a strong buy signal (Maybank)

Maybank recommends that traders monitor an EUR/USD close above the 200-week moving average.

"The EUR/USD rose to 1.1850 before falling back. Although the uptrend remains intact and we maintain our constructive view, a rapid rise of the EUR/USD could still face a correction, especially if the ECB is not in a hurry to reduce its stimulus.

A sustained weekly close above 1.1780 (200-week moving average and 38.2% Fibonacci retracement of the decline between 2014 and 2016) could pave the way towards 1.2180.

Dips could return to 1.1630 and 1.15 in the meantime."