EURUSD: Small Pull Back Expected before GO Higher High 1.2500$
Technical Market Outlook:
The EUR/USD pair has made another higher high at the level of 1.2138 it is on the way to the next target seen at the level of 1.270 - 1.2183. The nearest technical support is located at 1.2045. Nevertheless, the strong and positive momentum supports the short-term bullish outlook as the bulls are now in control of the market. The monthly candle for November is green and looks very bullish, so the market participants should expect the uptrend to continue in December.
Before Looking new higher high expecting some pullback downside support levels 1.1890, 1.1790$ and 1.1685$ weekly base. Currently $index Pressure and looking Major support level 89.60$. Since the middle of March 2020, the main trend is on EUR/USD pair has been up, which can be confirmed by almost 10 weekly up candles on the weekly time frame chart and 4 monthly up candles on the monthly time frame chart. The recent correction towards the level of 1.1612 seems to be completed and now the market is ready for another wave up.
🛑SUPPORT/RESISTANCE
✅S1= 1.1800
✅S2=1.1610
✴️R1=1.2160
✴️R2=1.2345
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The EUR/USD pair has made another higher high at the level of 1.2138 it is on the way to the next target seen at the level of 1.270 - 1.2183. The nearest technical support is located at 1.2045. Nevertheless, the strong and positive momentum supports the short-term bullish outlook as the bulls are now in control of the market. The monthly candle for November is green and looks very bullish, so the market participants should expect the uptrend to continue in December.
Before Looking new higher high expecting some pullback downside support levels 1.1890, 1.1790$ and 1.1685$ weekly base. Currently $index Pressure and looking Major support level 89.60$. Since the middle of March 2020, the main trend is on EUR/USD pair has been up, which can be confirmed by almost 10 weekly up candles on the weekly time frame chart and 4 monthly up candles on the monthly time frame chart. The recent correction towards the level of 1.1612 seems to be completed and now the market is ready for another wave up.
🛑SUPPORT/RESISTANCE
✅S1= 1.1800
✅S2=1.1610
✴️R1=1.2160
✴️R2=1.2345
Please like, share, comments and follow me to get daily base analysis.
Thank you for your support, I appreciate it.