EUR / USD, H4 chart
As you can see, the euro has been drifting since April 7.
This is clearly due to the deteriorating situation in Europe due to COVID-19. Poland and France are faced with the third wave, while Germany and Italy are balancing "on the brink". Italy, Germany, and Poland record 17,000-20,000 new cases per day.
The ZEW index for Germany came out very weak today falling to 70.7 from the previous 76, but was better than the forecast of 70.
The euro could have fallen. But it is holding on.
A breakout of 1.1930 is possible with a move towards 1.2200.
You may keep buying from 1.1770 and do not plan to exit yet.
The US employment report is scheduled for release on Thursday.
