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Thomson Reuters
Nov 06 - 05:00 AM
EUR/USD - Expect EUR/USD Correction, Don't Expect It To Happen Quickly
First appeared on eFXplus on Nov 06 - 02:40 AM
  • EUR/USD is nestled in the lower half of recent rough 1.13-16 range
  • Topside triggers for a bigger topside correction lie 1.1450-65
  • 21-DMA 1.1454 and 50% Oct-Nov drop (1.1622-1.1302) is 1.1462
  • Very thin Ichimoku cloud @ 1.1550 end-November may prove magnetic
  • Break option barriers @ 1.1300 is unlikely without fresh bearish news
  • Today news favours bulls. German ind orders beat +0.3% vs -0.6% f/c

EUR/USD daily chart Click here

EUR/USD daily chart Click here

Source:
Thomson Reuters IFR Markets

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