Price EURUSD at the time of writing this – 1.1655

Price EURUSD at the time of writing this – 1.1655
The return of the Euro from 1.1617 to 1.1658 yesterday suggests that Tuesday’s re-test near the 3 week high of 1.1669 will take place soon. A violation of which will increase the rise (per our view) from October 1.1525 up to 1.1700- 05. However, ‘loss of upward pressure’ should limit the price below resistance to 1.1755 this week.  On the downside, only a daily close below 1.1617 indicates that the reversal is over, then the trend will turn bearish towards 1.1572 next week.

Data to be released Today:
Continuing jobless claims, U.S. initial jobless claims, existing home sales, e, Canada ADP employment change, leading index change, new housing price index, and EU consumer confidence.