Although EUR/USD moved down a bit earlier today, the green support zone coupled with the 61.8% Fibonacci retracement continues to hold declines in check. Let’s recall our yesterday’s comments as they’re also valid today:
(…) EUR/USD has indeed tested the above-mentioned downside targets, triggering the interest and involvement of the bulls. As a result, the exchange rate has bounced, suggesting that a similar rebound to what we saw in mid-November could likely be ahead of us.
If that’s the case, the bulls could push the exchange rate to the lower border of the grey declining trend channel once again in the coming days.
If you enjoyed the above analysis and would like to receive daily premium follow-ups, we encourage you to sign up for our Forex Trading Alerts to also benefit from the trading action we describe – the moment it happens. The full analysis includes more details about our current positions and levels to watch before deciding to open any new ones or where to close existing ones. Besides, you can still subscribe to our Alerts at very promotional terms – it takes just $9 to read the details right away and then receive follow-ups for the next three weeks at very preferred terms. Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!
Forex & Oil Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care
This article was originally posted on FX Empire
More From FXEMPIRE:
- GBP/USD – Pound Calm in Light Trading Session, U.S Markets Celebrate Thanksgiving
- Ethereum and Stellar’s Lumen Daily Tech Analysis – 28/11/19
- Stock Market Overview – Stocks Rise to All-time Highs, Led by Energy, GDP Expands More than Expected
- European Equities: Stats to Play 2nd Fiddle as Trump Signs the HK Bill
- All Aboard The Rally Bus? Not Yet As The Hk Bill Could Be A Thorn In The Side Of The Market
- Geopolitics Put the Dollar and the Pound in the Spotlight