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.
I’m Vinit Makol. With 20+ years in forex and financial markets, I serve as lead analyst at Edge-Forex, covering currency markets, macroeconomics, trading strategies, and market-moving events to give traders practical insights they can actually use.