EURUSD: Weekly Forecast 30th Dec - 3rd Jan 2020
EURUSD confirmed a reversal just before the end of 2019.
The price had a successful reattempt and finally broke above the 18-month falling channel last Friday.
Besides, all major currencies have gained against the dollar too, confirming that the dollar is in a downward reversal.
Therefore this week, we are changing direction and will be looking to buy EURUSD.
But first, we want to make sure that the price breaks above the current resistance at 1.1175 and then wait for a pullback to buy.
However, if that doesn't happen and the price goes down from here, we will first wait for a low to form and decide which level to buy.
The price had a successful reattempt and finally broke above the 18-month falling channel last Friday.
Besides, all major currencies have gained against the dollar too, confirming that the dollar is in a downward reversal.
Therefore this week, we are changing direction and will be looking to buy EURUSD.
But first, we want to make sure that the price breaks above the current resistance at 1.1175 and then wait for a pullback to buy.
However, if that doesn't happen and the price goes down from here, we will first wait for a low to form and decide which level to buy.
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.