The EUR/USD
consolidation continues and has dragged on for three weeks now. Under such
circumstances almost nothing seems certain and trading the pair is inadvisable,
unless one feels confident trading range. That said, later this week the ECB rate decision will come out and Mario
Draghi will have a press-conference, not to mention that the USD change in the
non-farm payrolls is on Friday. These events always provoke a lot of volatility
on the market and I think it is likely that they will end the EUR/USD consolidation.
Very good analysis. I have questions about the short-term EURUSD behavior
ReplyDeleteExcellent post! Thanks.
ReplyDeleteit could keep dropping.
ReplyDeleteEURUSD has found renewed selling interest to start December, possibly driven by much stronger than expected US construction spending (to offset the slow start to the holiday sales season). The long-term downtrend remains firmly bearish but we will wait to establish a new short until key support at 1.2350 is broken to confirm the bearish momentum.
ReplyDeleteVery nice article. Thank you.
ReplyDeleteGreat assessment of the trade.
ReplyDeleteLong term still bearish.
ReplyDelete