The Euro
versus the Dollar has been very volatile for today and on the 15 minute chart
we can see that once the first fundamental from the US came out worse than
expected, the pair rallied a little bit more than 100 pips from the 1.1000
level to the 1.1100 level, but once it got to the 1.1100 level, it bounces from
that zone to the downside and it retraces the same 100 pips to the 1.1000
level. It is possible for the 1.1000 level to become a good support, but if for
next week the US fundamentals come out better than expected, especially the
Non-Farm Payrolls report, then the pair may continue dropping and the bearish
momentum may accelerate. Beneath the 1.1000 level, the 1.0900 level could
become its next support.
This comment has been removed by the author.
ReplyDeleteI wonder what effect the US Non-farm Payrolls will have on the pair next week.
ReplyDeleteA lot of volatility during this event.
ReplyDeleteGreat volatility during US NFPR
ReplyDeleteNice rally.
ReplyDeleteInformative, thank you!
ReplyDeleteExcellent analysis, thank you.
ReplyDeleteVery helpful analysis, thank you.
ReplyDeleteImpressive volatility!
ReplyDelete