Matl101

EURUSD TO GO UP BY END OF THE YEAR!

Long
FX:EURUSD   Euro / U.S. Dollar
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2
Global vaccinations started to happen as of Friday, which is amazing news. Oxford released a statement that their vaccine will be used from the 4th January to combat the new strain of coronavirus. USA is falling apart as Trump refused to sign COVID relief package and now millions of Americans who are unemployed will have no support*


* this may strengthen US dollar wait and see until Sunday evening market open.

So overall trend for EURUSD is still bullish and it is not changing this year, there might be a slight correction if US dollar opens up slightly higher, but the EUR is much stronger, and due to vaccinations we are going to be in a risk on mood! However markets will be very volatile and liquid so be careful and have tight stop losses or have a lower % of risk management!

Note that RSI seems to be exhausted from the downside move and and bounce is expected soon on the hourly chart, so if you want to go short be very careful!

What are your thoughts on this pair?

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