As shown by the money organizers at UOB Group, there is still space for the EUR/USD to test the 1.2200 level multi week from now.
24 hour see: "The EUR/USD made another high of 1.2177 last Friday (high of 1.2175 on Thursday) before offering way to deal with close to some degree bring down at 1.2120 (- 0.16%). While the overall move from the high is seen as a component of a more broad blend stage, the weakened principal tone proposes there is space for EUR/USD to go down to 1.2090. In light of everything, any deficiency is seen as a segment of a lower range some place in the scope of 1.2090 and 1.2160. Thusly, a proceeded with plunge under 1.2090 isn't ordinary ".
Next 1-3 weeks: "We have kept up a positive view on the EUR/USD since the completion of a month prior. In our last comment last Wednesday (December 2, EUR/USD at 1.2065), we highlighted that the EUR/USD 'has moved to its next bullish leg; the middle is at 1.2200 '. The pair rose to a high of 1.2177 on Friday and present second overbought conditions could incite several significant length of mix first. Anyway long 1.2040 (previously 'strong assistance' level at 1.2010) is flawless, there is up 'til now an open door that EUR/USD will move to 1.2200 ".