- EUR / USD is trading sideways around 1.2150.
- Additional losses could extend to the 1.2050 region.
EUR / USD kept the rises limited and returned to the 1.2150 area, a slight rise for the day.
That said, it appears that the bulls cannot regain control of the markets for the time being, leaving the door open for a further downward correction on the short-term horizon with the next target at weekly lows near 1.2060 (9 December 2020).
In the meantime, further gains in EUR / USD are likely as long as it is above the 200 day SMA, today at 1.1577.
Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should support the continuation of the current long-term trend.
EUR / USD day chart
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