EURUSD Daily Outlook 21-07-20 – On Monday Coronavirus vaccine data raised hopes that a successful vaccine could arrive before year-end, and so the US stocks rose even higher even though the US COVID-19 cases continue to rise and many cities are rolling back the reopenings of their economies. Meanwhile, the European Union leaders are close to agreeing on a coronavirus recovery plan deal.
Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.
On Tuesday we’ll be eying Canada’s new housing price index and Switzerland’s trade balance.
Today I’m looking at the EUR/USD pair which has just confirmed a break above the key resistance level of 1.1413 and if the bullish momentum continues, that would debunk our triple top bearish reversal observation from a week ago and doors could open up for the pair to reach a 9-month high at 1.15 and perhaps even the one-year high level above 1.18.
Do you think the bulls are strong enough to reach these levels within July? Head over to the comments section and let me know.
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