EURUSD: Weekly Forecast 6th - 10th Jan 2020
EURUSD climbed further and broke above 1.1200 as expected, as well as the pullback following after.
The last FOMC minutes was unsurprising as the Fed will keep rate unchanged which may cause the dollar to extend weakness.
While the dollar is fundamentally stronger than the euro, short-term sentiment favours a weaker dollar and so is the current technical structure.
The price has found its current low at 1.1125 during the pullback and most likely will dip further for a stronger rebound and resume the bullish trend.
Await for further pullback and look for buy opportunity at the demand zone just below 1.1108.
The last FOMC minutes was unsurprising as the Fed will keep rate unchanged which may cause the dollar to extend weakness.
While the dollar is fundamentally stronger than the euro, short-term sentiment favours a weaker dollar and so is the current technical structure.
The price has found its current low at 1.1125 during the pullback and most likely will dip further for a stronger rebound and resume the bullish trend.
Await for further pullback and look for buy opportunity at the demand zone just below 1.1108.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.