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Thomson Reuters
Nov 07 - 05:00 AM
EUR/USD - Strong Resistance Band Set To Put Brakes On Any EUR/USD Rally
First appeared on eFXplus on Nov 07 - 03:05 AM
  • EUR/USD correction anticipated since weak bearish reaction to strong NFPs
  • Correction builds post-election, pair choppy but ranges also moving up
  • Uncertainty created by U.S. vote likely leads to paring of risk
  • EUR/USD up swiftly once Europe opens , strong resistance looms
  • 55/100-DMAs 1.1561/84, daily cloud 1.1558-1.1640. Thick cloud hard to break
  • Close over 21-DMA @ 1.1453 needed to spur bulls but scope looks limited

EURUSD daily chart Click here

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