Buying EURUSD

From a technical and trading perspective, the EURUSD has retested bids below the pivotal 1.1000 area once again buyers have stepped in supporting the pair. On Friday we witnessed a key reversal day that flipped the daily chart bullish as per the near term volume weighted average price. As 1.1000 continues to attract support there is scope to set a base to target another leg of upside versus the October advance, the equidistant swing objective is now sited at 1.1279. (Note EURUSD seasonality is also supportive for December) A failure below Friday’s low would negate the bullish bias suggesting a deeper decline to test bids sub 1.0950.