The Euro is at risk of losing ground in the near term as several members of the European Central Bank signal the provision of additional monetary stimulus in December.

From a technical view,


EUR/USD pair continued a weak corrective uptrend movement. Take note that the EUR/USD pair continues to trade within a bullish parallel channel. Therefore, a reversal in the opposite direction can be seen when the price approaches the upper boundaries of the channel which coincides with the 1.190 psychological round mark.

EUR/USD also looks at risk of a near-term pullback as buyers are struggling to breach the resistance range at 1.1880 – 1.1900. However, remember that the trend will remain bullish until the price settles below the bullish channel.

Trading for a bearish move at this time is irrelevant since there is support from upward trend. Thus, traders are advised to wait until the upward reversal or sign of weakness from buyers below 1.190 in order to to open short positions and aiming for 1.1820 and 1.1780.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.