EURUSD Awaiting news

The euro currency has received a boost against the US dollar, following reports that the UK and EU are moving closer to agreeing on a Brexit deal. EURUSD traders also have a major risk event to look out for if President Trump decides to veto the proposed US stimulus bill. Technical analysis shows that bearish head and shoulders pattern may be developing across the lower time frames.

• The EURUSD pair is only bullish while trading above the 1.2190 level, key resistance is found at the 1.2230 and 1.2270 levels. 

• The EURUSD pair is only bearish while trading below the 1.2190 level, key support is found at the 1.2130 and 1.2050 levels.