EUR/USD has decreased a little in the short term but the bias remains bullish. The temporary drop was somehow expected after the amazing rally. The rate has come back to test and retest some support levels before resuming its upwards movement.
Fundamentally, EUR/USD is expected to continue higher due to the poor NFP. The US has added only 245K jobs in November versus 480K expected. Today, the eurozone and German ZEW Economic Sentiment could bring more action and volatility on this pair.
EUR/USD Bullish!EUR/USD is trading in the green on the H4 chart and it could come back higher soon after its failure to close under the sliding line (sl) or to retest the Pivot Point (1.2074). Is traded at 1.2122 level, a new higher high, jump above 1.2177 high signals further gains.
I've told you in my previous analysis, the outlook remains bullish as long as the price is traded above 1.2011 and above the median line (ml) of the ascending pitchfork. The most recent decline could help us to go long again.
EUR/USD Trading TipsA bullish closure above the upper median line (uml) and beyond 1.2177 high suggests buying with a potential target at the R2 (1.2329) level.