#EURUSD:
Technically speaking, we saw the price respecting the uptrend, holding above the 200 EMA as a confirmation. We are also seeing a broken flag to the upside, preceded by a double bottom.
Fundamentally (current market mover), Biden election sentiment is reflected in the last rally. The main reason being Democrats' foreign policy more permissive, which is a good thing for EUR and trade in general.
These technicals and fundamental factors, make my bias still bullish.
(1H):
Looking closer, the huge volatility of last week led to pretty large swings. For this reason, we stayed out of the market.
With the new week coming, we can start thinking of new opportunities. Last price action is showing an indecision triangle right on the daily trendline.
What we are looking for now is a new bullish continuation pattern, being it as a retracement towards the broken trendline or in the case of a 1.19 resistance break.
Technically speaking, we saw the price respecting the uptrend, holding above the 200 EMA as a confirmation. We are also seeing a broken flag to the upside, preceded by a double bottom.
Fundamentally (current market mover), Biden election sentiment is reflected in the last rally. The main reason being Democrats' foreign policy more permissive, which is a good thing for EUR and trade in general.
These technicals and fundamental factors, make my bias still bullish.
(1H):
Looking closer, the huge volatility of last week led to pretty large swings. For this reason, we stayed out of the market.
With the new week coming, we can start thinking of new opportunities. Last price action is showing an indecision triangle right on the daily trendline.
What we are looking for now is a new bullish continuation pattern, being it as a retracement towards the broken trendline or in the case of a 1.19 resistance break.