EurUsd- Correction over?

9 ธ.ค. 2020

As I said in my previous analyzes, I'm extremely bearish USD, and I expect, in the case of EurUsd, 1.25 to be reached by new year.
On Monday's analysis I argued that a slight correction could be on the cards for the single currency and that we can expect a dive to 1.2050 support and, although we had a correction, USD is so weak that not even this first support zone wasn't touched. Instead, EurUsd is more in a consolidation type move drawing a symmetrical triangle on our chart.
At this point, the price would be well sustained above 1.2050 and a daily close above 1.2150 would signal that the correction is over and the uptrend is ready to resume.
Buy dips around 1.21 with an SL under 1.2 could be a good trade with an R: R of at least 1:3 if we target 1.25 zone.