Weak Economic Data supported higher prints – GOLD Market Outlook – 26/11/2020
Gold hit our long entry resistance target at 1815, bouncing off the 1800 [...]
Trading news
EURUSD UPDATE
EURUSD, Daily
EURUSD sold off in the wake of mixed U.S. data that highlighted a 40 year low in U.S. jobless claims, slightly better core CPI reading, and a small improvement in the Empire State index. The EURUSD market sell off yesterday was a standard knee jerk reaction to the headline positive jobless claims, which saw renewed interest in buying the USD. Technically, the sell off was expected, as momentum indicators have been signaling that buying interest in the EURUSD has been slowing with the stochastic oscillator reading as overextended. Price now sits around the 1.1370′s, and I expect this area to hold, unless today’s U.S. release of the UoM Consumer Sentiment comes in above expectations. The 1.1370′s also happens to be the 38.2% Fibo from the July low (1.0808) – August High (1.1713), so I would expect price support around current levels. My conclusion for the short term trader is to add long positions above 1.1370 for targets between the 1.1460′s and 1.1560′s.
Friday, 16 Oct, 2015 / 8:39
Source : http://analysis.hotforex.com/blog/2015/10/16/eurusd-update/
Trading news
Euro bulls targeting 1.20 – EUR/USD Market Outlook – 26/11/2020
The Euro extends gains above 1.19 after weaker than expected US macro data [...]
The Fed considers helping the US economy “fairly soon”, the ECB [...]
