The EURUSD begins positively – Analysis - 01-12-2020

The EURUSD pair’s strong decline stopped yesterday at the key support line mentioned in our last technical update at 1.1920, to start today with clear bullish bias that hints the price head to resume the main bullish trend, which supports the continuation of the overall positive scenario, which its targets begin at 1.2011 and extend to 1.2150 after surpassing the previous level.

Stochastic reaches the oversold areas and begins providing positive signals that support the chances of achieving more expected gains in the upcoming sessions, taking into consideration that breaking 1.1920 will press on the price to decline towards 1.1855 areas before any new attempt to rise.

The expected trading range for today is between 1.1900 support and 1.2050 resistance.

The expected trend for today: Bullish