Euro continued to rise on Wednesday. European Central Bank officials said that the inflation outlook in the Eurozone may have improved significantly, which is enough to prove that the European Central Bank has reason to immediately slow down its stimulus and end the pandemic emergency debt purchase plan in March next year. The governor of the Bundesbank stated that inflation in the Eurozone is at risk of exceeding the ECB’s expectations, and the ECB should prepare for the end of the 1.85 trillion Euro (2.19 trillion USD) pandemic emergency asset purchase plan (PEPP).
From a technical point of view, Euro’s daily candle form 4 consecutive bullish candle, and the bulls are showing signs of starting. Focus on the key point of 1.1900. H4 graph shows a complete upward trend line. EURUSD has been on the upper BOLL band for a long time, operating around MA5. Overall prioritize buying at low prices on the fluctuation zone after correction. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1810.
Resistance：1.1860-1.1900-1.1950
Support：1.1810-1.1780-1.1750
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