EUR/USD was once fairly bullish this 12 months, using on the again of pronounced USD weak spot since March. Though the uptrend ended on the finish
EUR/USD was once fairly bullish this 12 months, using on the again of pronounced USD weak spot since March. Though the uptrend ended on the finish of August, after this pair had pushed just a little above 1.20, flashing out some weak stops above that massive spherical stage.
In September we noticed a reversal down, however the decline ended above 1.16, which appears to have changed into a serious assist space for EUR/USD. Within the final week of October, sellers had one other try on the assist however the space round 1.6 held once more and final week this pair turned massively bullish once more, because the USD crashed decrease.
The value climbed above 1.9, however the information in regards to the coronavirus vaccines turned the sentiment round, giving the USD some assist. EUR/USD misplaced round 100 pips on Monday and the stress reversed to the draw back. Earlier at present we noticed a retrace greater, nevertheless it appears to have ended proper under the 100 SMA (inexperienced) on the H1 chart. The 2 upside-down pin candlesticks pointed to a bearish reversal, so we determined to open a promote foreign exchange sign right here after the retrace and now it appears to be like like EUR/USD is reversing down once more.