EUR/USD currently settle at the level of 1.2230. As for today, forex market traders will be focus on the general mood as there are no important economic reports released.
Besides that, U.S. President Donald Trump signed a massive Covid-19 relief bill as well as the government funding package into law, which favors the risk amid a light trading session in Asia. This decision may also provide additional support to riskier assets and put more pressure on the U.S. dollar.
Other than that, the U.S. Stimulus package, as well as the Brexit deal, serves a bullish outlook for the EUR/USD pair. Still, some traders are still on holiday and it remains to see EUR/USD gain enough momentum at a time.
EUR/USD is testing the resistance level at 1.2230. Analyst forecast that it will gain upside momentum to 1.2250 if manage to settle above the resistance at 1.2230 and reach the recent high at.12280 if it moves above 1.2250. On the support side, EUR/USD will move towards the next support at 1.2155 if successful test below the level of 1.2175.
FOLLOWME EUR/USD Overall Sentiment (As of 03:40 p.m., Dec 28, 2020),
Short - 30.67%
Long - 69.33%
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