The Euro
versus the Dollar has found a good support level around the 1.1800, which we
have been watching during the last couple of days, due to the fact that the
daily candlesticks have left a relatively long lower shadow. The lower shadows
of the candlesticks indicate to us that the buying interest was rising and that
the downward momentum was losing steam. Today we see a bullish correction on
the pair, supported by the mix fundamental data that came out of the US.
Good analysis.
ReplyDeleteLet’s see if this spurs more risk appetite next week.
ReplyDeletewe just have to wait and see if the support level will hold the price from falling more
ReplyDeleteThanks.
ReplyDeleteInteresting point.
ReplyDeleteVery well observed
ReplyDeleteI agree, we should expect a movement to the upside.
ReplyDeleteStill in consolidation around the same levels.
ReplyDelete