EURUSD moving in an AScending Channel. Wait for the breakout.

EURUSD channel Analysis

EURUSD is moving in an Ascending channel by forming higher highs and higher lows in the 1-hour time frame chart.

Let’s wait for the confirmation of breakout from this channel range.

ECB policy minutes meetings outcome is there which is the recalibration of monetary policy settings in December month. Due to the second wave of coronavirus, Pandemic extended in European Countries.

Additional stimulus required for supporting the economy to avoid deflation. Hence ECB (European Central Bank) may possibly lower the interest rates than adjusting Pandemic emergency program and targeted longer-term refinancing operations as its main tools for adjustments.

Technically, EURUSD still remains in a strong uptrend.

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