The EURUSD gets a positive close – Analysis - 02-12-2022

The EURUSD pair surpassed 1.0515 level and closed the daily candlestick above it, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, organized inside the bullish channel that appears on the chart, waiting to head towards our new positive targets that start at 1.0600 and extend to 1.0750.

Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that it is important to hold above 1.0515 to achieve the expected targets, while on the other hand, caution required during today’s trading, as the markets are waiting for the US employment and payrolls’ data, which might cause high volatility to the major currencies’ pairs and commodities.

The expected trading range for today is between 1.0460 support and 1.0620 resistance.

The expected trend for today: Bullish