The EURUSD hits the target – Analysis - 13-12-2019

The EURUSD pair bounced upwards strongly by today’s opening to succeed touching our first waited target at 1.1180, settling there now, and by taking a deeper look at the chart, we find that the price draws double bottom pattern that its confirmation line located at the mentioned target, which means that breaching this level will form strong positive motive that supports the chances of extending the bullish wave on the short term and medium term basis.

Therefore, we suggest the continuation of the bullish trend in the upcoming period, noting that the next target is located at 1.1280, while the expected rise will remain valid unless breaking 1.1108 level and holding below it.

The expected trading range for today is between 1.1100 support and 1.1280 resistance.

The expected trend for today: Bullish