EUR/USD ahead of further performance

Technical analysis EUR/USD

The major FX pair EUR/USD has been in an unchanged upward trend since the spring sell-off. In this context, the countermovement that began in September now appears to have ended and a new upward impulse should be taken into account at the end of the rest of the year. Above the price zone of USD 1.1750, there is an appreciation tendency to initially around USD 1.2000. Following this, further gains in the $ 1.2100 to $ 1.2250 price range should come as no surprise.

However, below USD 1.1700, the bullish situation becomes vague. On the contrary, the devaluation pressure could then increase more significantly again. Especially below USD 1.1600 per day's close, one should expect a clear reaction impulse of at least another 200 pips in the direction of USD 1.1400.