The currency pair had no trend last week and fluctuated close to 1.1879. There are some reversal signals and EUR/USD has started to work them on Friday. We expect the currency pair to start plunging targeting 1.1630.

As for the news background, US Retail sales data, released last week, was worse than expected. The Head of the ECB Lagarde has mentioned that they are preparing a large stimulus package that they are going to release in December. Moreover, she has mentioned that some vaccines are undergoing testing, which is optimistic news for risky assets.

There are many news releases this week that are able both to support or to put pressure on EUR/USD.