EURUSD
The rate of the single currency vs the greenback retraced once again to 1.0750 (a 50% Fibo level from the lows at 1.0460 and recent highs at 1.1040), price that is seen as a key short term support level, and a level that was mentioned by us on during Monday analysis as a next point of stop should 1.0920 give up.
With increasing volumes around 1.0750 we expect fast paced movements before the week ends with the market being likely to break below 1.07 and target 1.0620 to eventually return below 1.05. On the other side a break above 1.08 would signal another bull run and return above 1.10 to eventually test 1.11.
As the volatility increases towards the end of the week we strongly suggest placing SL orders each time you place a trade.
The rate of the single currency vs the greenback retraced once again to 1.0750 (a 50% Fibo level from the lows at 1.0460 and recent highs at 1.1040), price that is seen as a key short term support level, and a level that was mentioned by us on during Monday analysis as a next point of stop should 1.0920 give up.
With increasing volumes around 1.0750 we expect fast paced movements before the week ends with the market being likely to break below 1.07 and target 1.0620 to eventually return below 1.05. On the other side a break above 1.08 would signal another bull run and return above 1.10 to eventually test 1.11.
As the volatility increases towards the end of the week we strongly suggest placing SL orders each time you place a trade.
