|Day's Range||1.172 - 1.18|
|52 Week Range||1.0348 - 1.2093|
Brett Steenbarger, Ph.D., psychologist and trading coach, and Mike Bellafiore, co-founder of proprietary trading firm SMB Capital and SMB|U, join Yahoo Finance's Jared Blikre to discuss what it takes to build a successful trading team.
In case if the quote fails to extend latest recovery above 1.1795 mark, the 1.1750, the 1.1730-20 and the descending TL support of 1.1700 might entertain sellers. As a result, the pair’s break of 113.70 can quickly trigger its rise to downward slanting TL figure of 114.00, which if broken could further escalate the advances to 114.40 and to the November high around 114.75. Assuming the pair’s capacity to conquer the 114.75 resistance, the 61.8% FE level of 115.40 could please the Buyers.
The Euro continues to experience headwinds in the short term as traders remain cautious due to knock-on effects from the Pound as political concerns remain about the Brexit. However, the Euro is intriguing moving forward and may find buyers who believe it should be valued higher.
Based on the current price at 1.1774 and the earlier price action, the direction of the EUR/USD today will be determined by trader reaction to a pair of Gann angles at 1.1800 and 1.1803.
The mid-term is divided between green and neutral signals, and the daily outlook is back to neutral. The interbank is neutral as well at less than 11% long, matching the 1 and 24-hour models. Mid-term brings 5 sell prompts, and the long-term is split between red and neutral models.
This week will be all about the central banks. Four major institutions will have their interest rate decisions: FED, ECB, BoE, and SNB. From that four, only in US, we should see some changes. Currently, on the markets, we can see three nice trading setups:
Gold has been under pressure and continues to test important short-term support. U.S Crude Oil has been able to gain. After initially gaining in early trading on Monday, the British currency reversed lower and has maintained its weaker path against the U.S Dollar.
Markets were somewhat lackluster on Monday, and that trend appears set to continue Tuesday as traders await a host of Central Bank meetings starting on Wednesday, with the Federal Reserve expected to hike rates at their last FOMC meeting of 2017.
Effectively this market will continue to be volatile in today’s session as the outcome of FOMC meeting on rate hike will come on Wednesday. If the statement from FOMC comes little hawkish, then this market will rally further towards the 1.20 level, and then eventually at 1.21 level.
The EUR has been bullish during the trading session on Monday, reaching towards the 1.18 level above. Ultimately, the market looks ready to break out, but we are struggling at the large figure.
Investing.com – The dollar was mostly unchanged against a basket of major currencies on Monday after data showed US employers posted fewer job openings than expected in October, pointing to signs of possible weakness in the labor market.
The dollar fell against a basket of the other major currencies on Monday but was held up slightly by expectations of higher interest rates. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, edged down 0.07% to 93.77 by 11:52 AM ET (16:52 GMT). The Federal Reserve is expected to raise interest rates at its two-day policy meeting this week but disappointing wage data could weigh on the pace of interest rate hikes next year.