👍💁♀️In this pair we have technical figure Triangle. The Triangle has broken through the resistance line at 21/10/2020. Forming a bullish formation on a daily chart. If price holds above this level we will have possible bullish price movement with forecast for the next 11 days with target 1.1926. Our stop loss order should be placed at 1.1703 if we decide to enter this position.
Fundamentals:
- The COVID-19 health crisis has been a historic shock for a fragile eurozone economy and banking system. Regardless, however, the euro has galloped to reach a month high to 1.1880 as the US dollar falls out of bed based on stimulus hopes. However, technically, the outlook for the euro does not look so rosy and nor does the situation of the spread of the virus, for not only the economy but European politics. Fresh demands for fiscal funds could trigger fresh debates about fiscal support and that is where the euro bull could come unstuck.
Fundamentals:
- The COVID-19 health crisis has been a historic shock for a fragile eurozone economy and banking system. Regardless, however, the euro has galloped to reach a month high to 1.1880 as the US dollar falls out of bed based on stimulus hopes. However, technically, the outlook for the euro does not look so rosy and nor does the situation of the spread of the virus, for not only the economy but European politics. Fresh demands for fiscal funds could trigger fresh debates about fiscal support and that is where the euro bull could come unstuck.