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AlphaInfinity
Oct 31 2015 at 07:31
7 posts
tommy2308 posted:
I was holding Short positions on EURUSD, but it seems, Someone told me this bearish Streak is over, And probably we will be back to 1.13 levels soon. I hope not. But Be careful, US cannot afford a lower EUR


Hi,

It's looking that way. Although the FOMC statement was a very hawkish sign of a December hike, the data just isn't supporting the data dependent Fed's potential move. Its not that the data is bad considering how our G7 peers are doing, it's just lower than expectations. With ECB still considering QE and the Fed considering a hike the dollar still has room to the upside but in the near term it seems the bearish move is pausing until data supports a drop.

We're currently in drawdown on some euro-dollar shorts, but still up for the day. Chicago PMI and Consumer Sentiment is still on the docket and good readings should hurl the dollar higher, but we'll see..

NFP Report is definitely the main risk event of the next week and will probably decide which way E/U will really go.

Good luck!
AlphaInfinity

kieran (snapdragon1970)
Oct 31 2015 at 07:32
1945 posts
tommy2308 posted:
I was holding Short positions on EURUSD, but it seems, Someone told me this bearish Streak is over, And probably we will be back to 1.13 levels soon. I hope not. But Be careful, US cannot afford a lower EUR


Around news events it's going to sell off because the view is lower euro,then some relief afterwards,the buyers come in again.


"They mistook leverage with genius".
AlphaInfinity
Oct 31 2015 at 07:33
7 posts
Hi again guys,

There was already chatter of a strong Chicago PMI number even before the data hit the wires. Thankfully it was true. Hopefully consumer sentiment follows and we may see the E/U upmove get contained and maybe even give back some gains.

AlphaInfinity

csc2009
Nov 02 2015 at 09:03
834 posts
Looks like the pair is heading back and closing the gap, level 1.1000 is still the key level to watch, break below could open further downside towards 1.0800.

Hugo ONeill (honeill)
Nov 02 2015 at 10:18
1141 posts
On Friday session the EURUSD initially rallied with a wide range but found enough resistance to give most of its gains back to the market although managed to close in the green near the open of the day.

The key levels to watch are 1.1097 (Resistance), the 200-day moving average at 1.1086 (resistance) and 1.0900 (support).

"I trade to make money not to be right."
FXWES
Nov 02 2015 at 10:19
675 posts
The euro recorded an insignificant increase against the dollar on Friday. The session was dynamic, and the pair gave indications for the continuation of the bullish trend from the previous day. After reaching a peak for the day at 1.1070, however, the single currency lost ground. The session ended at 1.1002, while the euro gained only 17 pips. If the upward direction continue, the currencies will make a test of resistance at 1.1095.

sherifFares
Nov 02 2015 at 17:52
454 posts
EUR/USD opened over the support/resistance line 1.1000 but still all day long the pair is moving in tight range.

victoriajensen
Nov 02 2015 at 18:58
1117 posts
sherifFares posted:
EUR/USD opened over the support/resistance line 1.1000 but still all day long the pair is moving in tight range.


The range will probably continue until the US Change in Non-Farm Payrolls on Friday.

Abdul2012
Nov 02 2015 at 19:09
413 posts
The EUR/USD moving around the opening point today and currently at 1.1021, I hope that the pair will not continue in this rhythm till Friday.

alexforex007
Nov 03 2015 at 02:55
774 posts
The EURUSD may just be waiting for the NFP numbers to take a clear direction, but it seems like it remains weak.

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