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Little has changed in recent days and everything is going as expected. In the United States, Democratic candidate Joe Biden is preparing to take office as President. For several days now, the new White House administration has been actively forming and announcing staff appointments. I will not list everything, however, I will note that Biden is gathering the old guard of "hawks". To make it clear what kind of team Biden is assembling, I will give one very characteristic example. One of the appointees described the bombing of Yugoslavia in 1999 as very weak. It was necessary to bomb harder to finally finish off the Serbs. If you consider that at the very beginning of the election race, Biden called Russia enemy #1, it becomes clear what to expect from the foreign policy of the new White House administration.
Meanwhile, the current President, Donald Trump, is celebrating Thanksgiving with the entire nation. The day before, according to the tradition adopted in the United States, he pardoned two turkeys, which this year will not be on the festive table. Trump has already conceded defeat. And although several states are continuing legal proceedings over vote fraud, this is already an empty formality. Despite his controversial policies, Trump, during his presidency, has not unleashed a single military conflict or bombed a single new country. This is the first time this has happened since the elder Bush.
Regarding the problem of COVID-19, the second wave of the pandemic is gradually subsiding in Europe, and the authorities of several European countries, on the eve of the Christmas holidays, are preparing to gradually lift restrictions. However, the problem of COVID-19 is still very relevant, and the main issue now is the vaccination of the population.
Daily
The EUR/USD currency pair is steadily moving up, breaking through level after level. Now, at the time of writing, the euro/dollar is trading near 1.1920. As previously assumed, the resistance of sellers in the area of 1.1900-1.1920 turned out to be very strong and so far prevents further growth of the quote. However, the closing of yesterday's trading above the significant level of 1.1900 allows us to expect that EUR/USD will still be able to continue the upward trend. If this happens, the next target of the euro bulls will be the most important price area of 1.2000-1.2010, where the key psychological level and trading highs of October 1 this year are held.
According to trading recommendations, I suggest looking for options for buying the pair after corrective pullbacks to the price zone of 1.1905-1.1890 or after a true breakdown of the resistance of 1.1920, on a rollback to this level. Let me remind you that a true breakout involves fixing the rate above or below the broken level, depending on whether this is resistance or support. In this case, we consider buying on a pullback to the broken resistance zone of 1.1900-1.1920, if such a breakdown happens. At the same time, if bearish reversal patterns of candlestick analysis appear in the designated resistance zone on the daily, four-hour, or hourly charts, a signal will appear to open sales.
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