EURUSD Weekly update 07.11-11.11

EU is forming bullish channel. This retracement need to create at least one more bullish leg, before continue to drop.



Interest rates



There is a big difference in Interest rates between US and Eur. Union. This difference will not allow change of the major order flow. This leads me that the recent bullish moves are only big retracement.


SMT Divergence



There is not SMT divergence and COT Reports shows that there is no change of the main trend.