EUR/USD Attempts To Go Higher

EUR/USD is caught in a struggle after the latest bottom at 1.0517. Since then the pair has been trying to recover and made two attempts. Although the first turned out unsuccessful, bulls managed to push price to a high of 1.0685. After that, the pair lost some of these gains and went to a low of 1.0565.

Now bulls are taking another chance to go beyond the latest high as price is currently 1.0632 with a high 1.0661. Main trend on the long-term remains bearish but in order for the trend to continue in the same direction, bears need more fundamentals, namely more economic data from the US and of course a raise in rates on 13-14 December.

Until then, price is caught in the range between 1.0660 and 1.0550. What can stir the markets today is the USD Personal Consumption Expenditure Core, and later in the week we have USD ISM Manufacturing and the most important monthly data the US Non-farm Payrolls and Unemployment Rate.

Chart: EUR/USD H4