EURUSD: possible scenarios
EURUSD is close to an important resistance zone last seen in 2018...
In my opinion, it will be difficult for euro to continue it's strengthening and break above 1.23000-1.25500 price zone.
I am not trying to predict where the price will be, however at the above mentioned zone I would at least expect some profit realization.
Entering the market now doesn't provide decent risk reward, so I think it's better to wait for a pullback to 1.16050-1.19250 support zone and look for buying opportunities there.
Also, it's quite uncertain period regarding US stimulus package and new covid variant in UK, which might be another trigger for some USD strengthening (or correction) as risk-off.
Time will tell.
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This is my view and should not be considered as a personal investment advice.
//
Make sure you follow me for more upcoming ideas and feel free to share your opinion via comment.
If you agree with my analysis support my work by hitting like.)
//
More info: link in bio.
Contact me if you have any questions.
P.S.
Don't just count your pips, count your blessings.
Merry Christmas and Happy New Year to all of you!
In my opinion, it will be difficult for euro to continue it's strengthening and break above 1.23000-1.25500 price zone.
I am not trying to predict where the price will be, however at the above mentioned zone I would at least expect some profit realization.
Entering the market now doesn't provide decent risk reward, so I think it's better to wait for a pullback to 1.16050-1.19250 support zone and look for buying opportunities there.
Also, it's quite uncertain period regarding US stimulus package and new covid variant in UK, which might be another trigger for some USD strengthening (or correction) as risk-off.
Time will tell.
//
This is my view and should not be considered as a personal investment advice.
//
Make sure you follow me for more upcoming ideas and feel free to share your opinion via comment.
If you agree with my analysis support my work by hitting like.)
//
More info: link in bio.
Contact me if you have any questions.
P.S.
Don't just count your pips, count your blessings.
Merry Christmas and Happy New Year to all of you!
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