EUR/USD - 1.1924.. Euro remained on the front foot in Asia due to risk-on trade following US Dow hitting record highs (Tue), price rose fm 1.1889 (AUS) to 1.1929 in Europe b4 retreating to 1.1883 n later climbed to 1.1926 in NY.

On the bigger picture, despite euro's LT upmove fm 2017 near 14-year low of 1.0341 to a fresh 3-year peak of 1.2555 in mid-Feb 2018, price tumbled to a near 3-year 1.0637 low in Mar 2020 on broad-based usd's strength. Euro's subsequent rally to a 2-year peak of 1.2011 in the beginning of Sep due to risk-on trade signals said fall has ended. Having said that, euro's weakness to 1.1613 in late Sep signals temp. top is made n despite a brief drop to a 3-month low at 1.1603 in early Nov, subsequent rally to 1.1919 in early Nov signals correction is over and may head twd 1.2011 in Dec, however, 'bearish divergences' on daily indicators would cap price at 1.2300/05. Only below 1.1746 risks 1.1689, 1.1603.

Today, Wed's break of prev. Nov's 1.1919 top to an 11-week high of 1.19 29 suggests recent upmove would head twd 1.1965, however, 'bearish divergences' should cap price well below 2020 peak of 1.2011. On the downside, a daily close below 1.1842 signals temp. top is made n risks retracement twd 1.1800.

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