EurUsd- Ready for new leg up

2020年12月14日

After breaking 1.2 important zone, EurUsd reached a high just under 1.22 and stopped its ascent.
The correction attempt was met with strong buying around 1.21 by the bulls and we now have a rectangle pattern on our chart which in most of the cases means continuation.
With USD being so weak with all its counterparts I would expect that to be the case for EurUsd and a new leg up to follow.
We have a clear confirmation once the pair breaks above 1.2170 and 1.23 could be our first target.
A break under 1.2070 on the other hand would delay this outlook.
Buy dips is my strategy for EurUsd