EUR/USD

The uptrend is relevant for the EUR USD currency pair.
But the pair is in the overbought zone. You need to buy on a downturn.
However, the correction will be short-lived.
While the pair is growing strongly.
It is better to keep holding open positions. It is too early to fix the accumulated profit.

I believe that the pair will continue its upward movement. Therefore, it is recommended to continue trading upward with the target of the resistance level 1.2180 (the last resistance level for this week). However, there are currently few guidelines for maintaining the upward trend. The pair managed to exit the ascending channel.
Nevertheless, the current fundamental background still allows us to count on a downward reversal of the pair in the near future.

There is plenty speaking against the pair now.
- No deal Brexit might be a reality on mondays vote over the tax bill (breaking withdraw agreement). Negosiations is suspended.
- Poland holds firm not to approve the EU budget with relief package. Hungary and slovenia also voted against last time. They have not as much need as they have their own currencies and central banks they can use to support the economy. So they won't sway easy.
- ECB will increase the QE program.
- ECB might speak down or take action as they have previously signaled 1.2 as theirvmax level.
- Deflation is a reality. -0.3% in november.

This week, EUR USD may fall back to the level of the moving average on the daily chart.
If the price falls significantly lower, you should expect a pullback to the moving average on the weekly chart.
Have a good trading week.

How fall will it risk falling on no deal Brexit (the most likely outcome, betting odds is now standing at over 60% for no deal)?

Both the GBP and the EUR seem to largely price in some kind of brexit deal still.

stian posted:
How fall will it risk falling on no deal Brexit (the most likely outcome, betting odds is now standing at over 60% for no deal)?

Both the GBP and the EUR seem to largely price in some kind of brexit deal still.

If exit without a deal, EUR will rise and GBP will fall. Because Europe is bigger and more efficient than Britain. In the short and medium term. Then the GBP will start to grow, because the country will get rid of the dictates of Brussels. However, I believe that exit without a deal is unlikely, because it is not necessary for any of the parties. They will probably reschedule the date again.

Globtroter posted:

stian posted:
How fall will it risk falling on no deal Brexit (the most likely outcome, betting odds is now standing at over 60% for no deal)?

Both the GBP and the EUR seem to largely price in some kind of brexit deal still.

If exit without a deal, EUR will rise and GBP will fall. Because Europe is bigger and more efficient than Britain. In the short and medium term. Then the GBP will start to grow, because the country will get rid of the dictates of Brussels. However, I believe that exit without a deal is unlikely, because it is not necessary for any of the parties. They will probably reschedule the date again.

It is worwe for GBP than EUR so EURGBP will rise, true. But it is bad for both,so one would see a move towards non-european currency (like USD and JPY).

German full lockdown till 10. january is also something that should way on the EUR.

It is worwe for GBP than EUR so EURGBP will rise, true. But it is bad for both,so one would see a move towards non-european currency (like USD and JPY).

German full lockdown till 10. january is also something that should way on the EUR.
As long as you buy, I will sell. You will lose money. I will earn money. Your predictions are incorrect.

According to my forecasts, by the end of this week, the dollar should yield its positions against the euro.

EURUSD has been ranging since 3th of December. Is there any clear reason for this, upcoming events etc., or is this just waiting for the hard Brexit to happen at the end-of-the year?

We have to wait till EURUSD hit 2530 area, And decide at that point, i do not see any short opportunity for now.

Currently, it seems that EURUSD broke out, and heading north.. Any reason for this? There are even two gaps in price data, which are visible in the 15M time frame.

Another thing to wait for might be the FED interest rate decision in this evening.

esperando retroceso de onda 2 (poco mas del 50%) y entrar en 1.21853 largo en la onda 3

If we compare the strength of this, USD has been quite strong the past few days and EUR might remain standard for a while.

Optimism over stimulus package is high with Biden coming in. Read in Fxview's reports as resistance is around 1.23700.

Good support on the EURUSD around the 1.2060 level which has touched on five ocassions during the last two months. The 200 month EMA is exactly at that level and that is why the pair is having trouble breaking below it. To the downside, the 1.2000 level could also act as support.

According to fxview report, eurusd is looking bit down due to employment change data. Any expectation?

Is the EURUSD dropping due to the impact of Covid, because the euro weakened on Thursday after the European Central Bank said that there is more stimulus fighting the coronavirus impact, but did not lower interest rates with one currency falling to the day's low as investors rushed for dollars?