A Promising scenario for EUR and EUR/USD:
Nothing remains permanent in Forex trading. After a trial of losses, traders can witness a promising scenario for EUR. Finally after troubling the investors for a long time, EUR is now again starting to get a place in spotlight. A promising future awaits EUR as its trading partners are facing hurdles in smooth trading. Particularly USD is slowly losing its ground. The loss of one currency in Forex market actually means gains for its counter-currency. Same goes for EUR.
Flag resistance and a promising scenario for EUR:
Recently the value of EUR has breached and dominated the resistance point. Such a move in forex market exposes a series of gains and rise in value of EUR. The current situation indicates a steady journey towards this year’s highest price of EUR. Thus it favors and strengthens the state of EUR. Obviously after analyzing these factors, you can expect a promising scenario for euro.
Investors are net-short which further supports the assumption of a stronger euro in the near future. Investors were net-short yesterday and even the whole last week as well. Therefore the recent trading sentiments of the traders predict a profitable scenario for EUR. The time for celebrations is about to come. This Christmas period is definitely going to reward the traders of euro who remained persistent during the lower times. Now they will enjoy a promising scenario and profitable time period.
USD, a falling angel:
USD has faced a fall in its price. Now it further losses against its counter-currencies. USD is even facing a serious decline as compared to SGD (Singapore Dollar), PHP (Philippine Peso), IDR (Indonesian Rupiah) and THB (Thai Baht) as well. Thus the rocky path awaits USD in the near-term. This fall of USD will help EUR to climb more steadily.