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05.12.201910:25 Forex Analysis & Reviews: EUR/USD Daily

Long-term review

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EUR/USD is showing a situation similar to AUD/USD.

A longer-term downtrend (red line) broken as it already pierced in a false break in October and stopped at the 1.11 resistance level, that happens to be also a level through which the Blue trend line is passing. The yellow line that you see is a long-term channel.

The lows from October are higher (1.09, 1.10). Yesterday the price also touched a higher high after a drop at the beginning of November.

If you are in, stay LONG, otherwise you could still try to play the buy from here 1.1085 to somewhere around 1.1150. Be very careful at that point.

Only at a clear break of 1.1180 / 1.1230 area, we will be able to expect further long-term strength.

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