LONG:The EUR/USD Is In Uptrend

The EUR/USD is in uptrend. We expecting the Bullish Trend to Start….the price close at 1.10601 as at the close for the trading week on Friday…..we looking at price to touch our support level around 1.10000 …we aiming price at our targeted price of 1.11749.
Bullish continuation is expected due to a bullish signal on on 4hr. A drop below 1.0900 will negate bullish scenario. If 1.6254 is reached, the pair might have a pullback as 1.6154…….

We are moving toward year-end and hence getting into the period of trading when fundamentals often become less influential giving way to seasonal positioning flows into year-end. But it is hard to see euro performing well after the sharp drop in IP in Germany along with weaker than expected. Contrast that with the strong US employment report and we know Christine Lagarde’s press conference will be trickier than Jerome Powell’s.

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08 Dec 2019 3:17 pm Posted by admin