Very hectic end to busy week, US Tsy 50%......>

FOREX: Very hectic end to busy week, US Tsy 50% retrace of Thu's rout US/China

trade deal, impeachment and UK election headlines. USD gained vs. majors

- EURUSD rallied Friday but activity was choppy and the pair was unable to hold

onto the high. Despite this, the outlook remains bullish. Price traded above

1.1179, Oct 21 high to confirm a resumption of the uptrend that has been in

place since early October. Momentum studies are bullish too reinforcing current

trend conditions. However given today's rejection off the high, a break above

1.1199 is also needed to reinforce the bullish theme. 

- GBPUSD rallied sharply Friday. With the UK election results now clear,

attention turns to whether the underlying bullish sentiment can be maintained.

Bulls have clearly been given a shot in the aim with Cable significantly higher

and Friday's gains confirming a resumption of the current uptrend. 

- USDJPY traded in a choppy manner Friday but the pair did push higher,

extending the strong recovery seen on Thursday. Attention is on the key

near-term resistance at 109.73, Dec 2 high where a break would confirm a

resumption of the uptrend that has been in place since Aug 26.