EURUSD ---> Correction is getting stronger. Next is 1.040

11月22日

EURUSD testing a key support level after a free fall. Short sellers continue to resist, relying on key fundamental aspects of the global economy.

The US Dollar strengthened following the release of last week’s Initial Jobless Claims data. Specifically:

US Initial Jobless Claims fell to 213,000 for the week ending November 15th, down from 219,000 (revised from 217,000) in the previous week and below the forecast of 220,000. This development has sparked speculation that the Federal Reserve's pace of rate cuts may slow down.
Attention now shifts to the Manufacturing and Services PMI from the Eurozone, Germany, and the United States...

Technically, EURUSD confirms the descending trend channel, providing us with a primary trend to monitor in our trading decisions. From a technical perspective, gold is attempting to break out of its main range, breaching a key support level. If there is a false breakout around the 1.047 level, a minor correction toward resistance may form. However, with the price testing strong support, we may see a false breakout and a corrective move to the areas to watch at 1.048-1.049 (0.618 fib line) before the downtrend continues.

11月24日

交易結束：目標達成

HIT target fibo 1.618