The EURUSD breaches the resistance – Analysis - 12-12-2019

The EURUSD pair rallied upwards strongly on yesterday’s evening to breach 1.1108 level and settles above it, which turns the intraday track to rise again, and the way is open to visit 1.1180 level as a first main station, noting that breaching this level will open the way to extend the bullish wave on the longer term basis to reach 1.1280 followed by 1.1418.

Therefore, the bullish trend will be suggested in the upcoming sessions conditioned by the price stability above 1.1108, being aware that the pair might witness mixed trades and high volatility at the time of releasing the ECB rate decision today.

The expected trading range for today is between 1.1050 support and 1.1250 resistance.

The expected trend for today: Bullish