The EUR/USD went into the Christmas weekend near the 1.10140 ratio. The currency pair touched a high on early Friday near the 1.10400 level, which is a value that had last been seen on the 10^th of August. The EUR/USD is now within sight of mid-term highs again and this time around bullish speculators may feel more confident about the chances of the currency pair sustaining current price realms and going higher.After touching the 1.10100 level in late November after a fight up from a low of nearly 1.05175 in early November, the EUR/USD suffered another reversal lower. But after touching the 1.07360 vicinity on the 7^th of December, the EUR/USD began to climb upwards again. The rhetoric from the U.S Federal Reserve which went from neutral to soft in mid-December helped the EUR/USD climb. However, last Wednesday the EUR/USD once again had reversed lower and the 1.09300 mark was being challenged. Yet, this low clearly shows that higher values were being sustained. And then further impetus arrived for traders who were still at their trading posts before the long holiday weekend started and remained bullish. U.S Economic Data Bolsters Momentum Higher in the EUR/USDGross Domestic Product numbers from the U.S late last week came in weaker than expected, while the growth number was still relatively strong the outcome reignited thoughts about a slowing U.S economy. On top of this data came inflation numbers from the U.S that were below expectations and this bolstered the belief the Federal Reserve is going to have to turn dovish in the spring of 2024. The weaker than anticipated inflation statistics from the U.S helped the EUR/USD climb.The ability of the EUR/USD to climb above the 1.10000 level and sustain prices going into this weekend is noteworthy. On Thursday of last week the EUR/USD briefly flirted with the 1.10000 mark, but Friday’s charge higher and price action into the weekend, even as Forex trading volumes dropped might prove to be significant going forward. The long Christmas weekend will affect trading volumes this week. Thin markets should be expected early this week and traders need to understand unbalanced conditions can sometimes be dangerous even for the EUR/USD.Risk Management and Bullish Sentiment in the EUR/USDBullish speculators who have been waiting for the EUR/USD to produce a trajectory upwards that will amount into more runs higher may be expecting solid buying conditions to remain evident. The 1.10000 mark will be watched early this week, and if the EUR/USD can sustain price action above this realm and continue to flirt with higher values, this could set the stage for bullish wagers to remain firm and build.

EUR/USD Weekly Outlook:Speculative price range for EUR/USD is 1.09775 to 1.11910Traders cannot be blamed for believing more upside is going to develop in the EUR/USD.  However, speculators also need to understand many financial institutions will be absent from the trading landscape and this opens the doors to large players who need to move money in potentially unexpected ways. If the EUR/USD can challenge last Friday’s highs and maintain a price above the 1.10400 and 1.10500 ratios, this will likely cause other speculators with bullish sentiment to search for higher values.Traders should not get overly ambitious this week. Yes, Forex sometimes moves in dynamic fashions during the holiday break at the end of the year, but large moves cannot be relied upon. Traders should use entry orders to protect against surprising fills in thin holiday markets. The use of take profit orders to cash out winning positions before they vanish could prove crucial if the EUR/USD suffers from fast corrections (reversals), as some large institutions keep an eye on Forex during this holiday week. More By This Author:WTI Crude Oil: Weekly Forecast December 24 – 30BTC/USD: Higher Values Demonstrated As Doubts Pushed AsideAUD/USD Forex Signal: Golden Cross Pattern Nears