EURO BUYERS STILL IN CONTROL ABOVE 1.2050
The euro has moved to another new-weekly trading high against the U.S dollar, hitting 1.2089, on Thursday, as strong ADP jobs numbers helped risk-on sentiment in global markets. The EURUSD pair fell just short of the 2017 price-high, at 1.2093, creating a bearish double-top pattern on the price-charts. Price-action currently trades around the 1.2070 level, as buying momentum for euros remains strong. Financial markets now look to the U.S Non-farm payrolls job report, with economists expecting 190,000 new jobs were created during December.
The EURUSD pair is strong bullish while trading above the 1.2050 level, intraday targets above the 1.2093 level are 1.2150 and 1.2200.
Should the EURUSD pair decline below the 1.2050 level, again, sellers will look to test the key 1.2030 region and the psychological 1.2000 level.