EUR optimism is mounting as EUR overstep psychological threshold of 1.1000 ag USD once again.
* The pair sparked during the Asian session as the markets participants started selling USD on the back of a Bloomberg's report stating that the US is planning to enter into a currency agreement with China.
* In the short-term, traders should pay attention to the ECB minutes and rate cuts announcement by the US Fed.
* On 1D Chart, EURUSD strike through 21-period , simultaneously breaking out of the mid-term descending trend channel.
* On 1H Chart, EURUSD went through the 3-steps trading pattern (contraction, expansion, trend) and is currently rounding off a profit taking phase.
* Overall, the mid-term outlook is UP, while a 1H short-run direction is temporarily down.
Mid-term trading strategy
Buy @1.0990 - 1.1010.
Short-run trading strategy
Sell @1.1020 - 1.1030.
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