My thoughts about EURUSD (requested by one of our subs).
- Technical analysis: In the recent week EURUSD was in a uptrend (created nice HHHL structure) with many impulsive candles (Purple zone) to the upside. Currently, the uptrend is still strong because reversal patterns (big wicks, head and shoulder,...) are not created.
- Fundamental analysis: German Minister for Health said "We expect 20% of the population to be vaccinated by the end of April." Also, German economic institutions estimate that households have saved about € 200 billion through quarantine, which could improve demand and overall economic performance by lifting #CoronaVirus🦠 restrictions. This could indicate that #EUR will be strong in the next few weeks.
Hence, my bias for EURUSD is long
- Technical analysis: In the recent week EURUSD was in a uptrend (created nice HHHL structure) with many impulsive candles (Purple zone) to the upside. Currently, the uptrend is still strong because reversal patterns (big wicks, head and shoulder,...) are not created.
- Fundamental analysis: German Minister for Health said "We expect 20% of the population to be vaccinated by the end of April." Also, German economic institutions estimate that households have saved about € 200 billion through quarantine, which could improve demand and overall economic performance by lifting #CoronaVirus🦠 restrictions. This could indicate that #EUR will be strong in the next few weeks.
Hence, my bias for EURUSD is long