Trader, analyst and instructor with a 6-year experience

A.Weber: comments on EUR/USD

   Alex Weber

The recent inability of EUR/USD to break above the 1.2600 mark lowered the near-term bullish expectations. However, the sellers should be careful these days: on Monday the price managed to recover from the November lows.

I see a risk of a double bottom formation in case of a break above the 1.2500 mark. Next resistance lies at 1.2600 – these are the November highs. In the long-term I still stay bearish, but at the end of the year we can’t exclude a recovery towards the 1.2900 area.

Break below the 1.2350 support will open the way for further EUR/USD weakness. 

Good luck and enjoy your day!

Chart. H4 EUR/USD


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