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Thread: EUR/USD

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    Default EUR/USD

    • EUR/USD moving inside minor impulse wave 5

    • Further gains likely toward 1.2500


    EUR/USD has been rising in the last few trading sessions inside the sharp minor impulse wave 5, which belongs to the strong medium-term impulse wave (C) from the start of November. The active impulse wave 5 started when the pair reversed up with the daily Japanese candlesticks reversal pattern Bullish Engulfing (encircled below) from the combined support area lying at the intersection of the multiple intersecting support levels: the 50-day moving average, support trendline of the daily up channel from October, lower daily Bollinger Band and the 38.2% Fibonacci retracement of the previous upward impulse from November.



    EUR/USD is expected to continue the upward movement toward the next buy target at the next prominent resistance level 1.2500 (which reversed the earlier waves 3, (b) and b).

    source https://blog.fxopen.com/eurusd-and-e...ical-analysis/
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    Default

    Coronavirus keeps spreading in Europe, spooking investors into safety.
    US data missed the market’s expectations, hurting the greenback.
    EUR/USD faces next relevant resistance at 1.0900, the 38.2% retracement of its latest daily slump.

    The financial world was all about sentiment for a second consecutive day. The American dollar recovered some of its Monday losses throughout the first half of the day, but resumed its decline with the US opening, amid poor local data and government yields collapsing, raising speculation of a possible recession in the world’s largest economy. Meanwhile, more European countries reported coronavirus cases and fears it becomes a pandemic kept high-yielding assets on the losing side.


    courtesy fxstreet
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    Default

    You can post the analytical reviews and opinion on this particular pair.
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