The movements of the euro against the US dollar witnessed a slight bullish tendency during the previous trading session within a rise to the upside, benefiting from building on the support level of 1.2065.<\/p>\n\n\n\n
Technically, and with a closer look at the 60-minute chart, we find the 50-day moving average that returned to hold the price from below, and this comes in conjunction with the positive signs coming from the RSI and obtaining bullish momentum.<\/p>\n\n\n\n
Despite the technical factors that support the possibility of continuing the bullish trend, we prefer to wait for the session for the second day in a row, until confirming the breach of the pivotal resistance 1.2170, Fibonacci retracement of 23.60%, which is a catalyst that enhances the bullish chances to visit 1.2200 and then 1.2245.<\/p>\n\n\n\n
From below, if the pair fails to breach the aforementioned resistance to returning to trading and stabilizing below 1.2090, this may put the price under negative pressure targeting a re-test of 1.2065, a correction of 38.20%.<\/p>\n\n\n\n
The break of 1.2065 is a signal to complete the bearish correction again with an initial target of 1.2000 and may extend later to 1.1975 50.0% retracement.<\/p>\n\n\n\n
Note: The speech of US President-elect “Joe Biden” is due today and that may have a significant impact on the market movement.<\/p>\n","protected":false},"excerpt":{"rendered":"
The movements of the euro against the US dollar witnessed a slight bullish tendency during the previous trading session within a rise to the upside, benefiting from building on the support level of 1.2065. Technically, and with a closer look at the 60-minute chart, we find the 50-day moving average that returned to hold the …<\/p>\n","protected":false},"author":9,"featured_media":40170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[42,41],"tags":[7222,6877,6872,6928],"class_list":["post-40161","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-tech-analysis","category-tech-analysis","tag-analysis","tag-dollar","tag-eur","tag-euro"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/40161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=40161"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/40161\/revisions"}],"predecessor-version":[{"id":40171,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/40161\/revisions\/40171"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/40170"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=40161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=40161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=40161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}