EUR - BULLISH
1️⃣ Investors welcomed news that Poland showed willingness to find a solution that would allow an agreement to be reached on the EU's €1.8 trillion stimulus package.
2️⃣ The EUR was also helped by broad dollar weakness amid renewed hopes for a coronavirus vaccine and signs of progress towards US fiscal stimulus.
3️⃣ German factory orders rose more than expected in October.
USD - BEARISH
1️⃣ Interest in safe heaven assets wained further on signs of progress in fiscal stimulus in US and hopes the COVID-19 vaccine can be deployed soon.
2️⃣ A worsening coronavirus pandemic and new lockdowns across the country raised concerns about the extent of economic pain before a vaccine is made available.
3️⃣ Low-interest rates and concerns about rising levels of debt in US are leaving room for further downside momentum.
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Technical
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We are buying the EURUSD above the support of 1.21350 + above SMA 50 on the H1 chart.
1️⃣ Investors welcomed news that Poland showed willingness to find a solution that would allow an agreement to be reached on the EU's €1.8 trillion stimulus package.
2️⃣ The EUR was also helped by broad dollar weakness amid renewed hopes for a coronavirus vaccine and signs of progress towards US fiscal stimulus.
3️⃣ German factory orders rose more than expected in October.
USD - BEARISH
1️⃣ Interest in safe heaven assets wained further on signs of progress in fiscal stimulus in US and hopes the COVID-19 vaccine can be deployed soon.
2️⃣ A worsening coronavirus pandemic and new lockdowns across the country raised concerns about the extent of economic pain before a vaccine is made available.
3️⃣ Low-interest rates and concerns about rising levels of debt in US are leaving room for further downside momentum.
=====
Technical
=====
We are buying the EURUSD above the support of 1.21350 + above SMA 50 on the H1 chart.
Trade active
Trade closed: target reached:
✅ TRADE HAS HIT TP
+30 PIPS
+30 PIPS