EURUSD levels below 1.20 are good for long positions
The new business week started sluggish in the first part of Monday. There is not a clear direction and as overall the trading EURUSD is into neutral direction. The trading level (EURUSD) below 1.20 is a very good entry for many investors to buy Euros.
Until the end of the day and tomorrow (Tuesday) there are no important fundamental events in the United States and in Europe the most important event is Germany Trade Balance on Tuesday.
In the absence of fundamental events the market will focus over the politics of the new president Biden and the new economy stimulus. Also the news of the Corona-Virus may also push the trading in one of the directions. As overall in a time without key events the market may easily find a new direction as the chance for upward movement above 1.2100 is with higher chance. So we recommend staying in long positions in the first half of the week.
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It rallied to 1.2245 and it remains quite bullish, the move north will likely continue.
It is testing 1.2230 for now. I wonder if we will see a breakout today though.
It failed to break out above the resistance but that still may occur next week.
The consolidation continues today. It's likely the usual summer range has begun.
The move north continued today, finally! I think we may see it rally to 1.2300.
It found some resistance at 1.2260 but I think the move north will likely continue eventually.
The consolidation continues today too. I think there won't be a breakout above 1.2300 this week.
As I thought, the pair remained as undecided as yesterday. I doubt there will be any changes this week.
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