Hi Traders,
The EURUSD was quite choppy for most of the week as we came into the 110800 handle; this level aligns with the 50 Fib retracement to the downside.
Price rejected off this level strongly as the market priced in bad PMIs with the dollar finding a bottom too.
Like the GBPUSD the stochastic crossed bearish on 21 Nov. However, it looks like a ranged asset, shown in the box. We should be looking to short it on pullbacks.
The next junction for action may be the 110000 area.
Kind regards,
Aardall
The EURUSD was quite choppy for most of the week as we came into the 110800 handle; this level aligns with the 50 Fib retracement to the downside.
Price rejected off this level strongly as the market priced in bad PMIs with the dollar finding a bottom too.
Like the GBPUSD the stochastic crossed bearish on 21 Nov. However, it looks like a ranged asset, shown in the box. We should be looking to short it on pullbacks.
The next junction for action may be the 110000 area.
Kind regards,
Aardall