Euro ($EUR /USD)
Market Overview: The Euro is showing resilience, currently trading around 1.1739. After hitting a two-month high near 1.1760 recently, it has entered a minor consolidation phase. The overall trend remains firmly bullish on the daily chart, supported by a shift toward fiscal expansion in Germany and a neutral stance from the ECB, while the US dollar remains relatively weak.
Key Support: 1.1690 | 1.1644 (Strong Pivot)
Key Resistance: 1.1810 | 1.1920 (September Highs)
Next Move: The pair is likely to trade within a narrow range (1.1700 - 1.1760) as the market enters the low-liquidity "holiday season." A clean break above 1.1800 is the primary trigger needed to confirm a move toward the psychological 1.20 handle.
Trade Targets:
TG1: 1.1780
TG2: 1.1850
TG3: 1.2000 (Mid-term Target)
Insights:
Short-term: Neutral/Bullish. Stability is the theme as the year winds down.
Mid-term: Bullish. Momentum indicators (RSI) are approaching overbought territory (67-70), but higher highs continue to form.
Pro Tip: This is "Silly Season" for Forex. With liquidity dropping toward the end of December, price moves can be "messy" or exaggerated. Avoid using high leverage during the final two weeks of the year to prevent getting stopped out by random spikes.
