EUR/USD:BUY From Support Area For A LONG Continuation!

EUR/USD inside a Bullish channel is making Higher-highs and Higher-lows with re-tests on the previous Support areas. Yesterday we shared our Idea about a new Bullish impulse meanwhile most traders were scared about the drop made by the re-open of the USA session market after a holiday pause.
Today the US ISM Manufacturing PMI is seen dropping further to 48.5
The US manufacturing sector seems to be a contraction that is set to deepen further at the beginning of 2023, having shrunk for the first time in November after May 2020 when the economy began to recover from the Covid lockdown-induced downturn.

In December, the headline ISM Manufacturing PMI is seen lower at 48.5 while the New Orders Index is expected to improve to 48.1 alongside the Employment Index at 49.1. The US ISM Prices Paid component is likely to continue its downtrend, foreseen at 42.5 in December when compared to the previous reading of 43.0.

Despite expectations of a softer headline figure, an improvement in new orders could provide the much-needed respite to the US Dollar buyers at a time when the European demand for orders is seen dwindling, with the full impact of winter and the Russia-Ukraine war coming through. Even domestic demand and exports are expected to be badly hit due to the stubbornly-high inflation in the US economy.

Our forecast is about a new Bullish impulse For EUR/USD.

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✅ YESTERDAY IDEA ✅

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✅ TODAY PRICE MAY GROW MORE ✅