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Published on Nov 24, 2016
The
EUR/USD went back and forth during the day on Thursday, as the 1.05
level below offer quite a bit of support. This is an area that is
massive when it comes to support on the longer-term charts, so having
said that it is not surprising that we slowdown in this area. On top of
that, it was Thanksgiving in the United States of some of the liquidity
in this market was taken out. I would expect a bounce here, and I think
that bounces going to offer and I selling opportunity from higher
levels. I want to see some type of bounce that fails after a bit of a
gain so I can take advantage of “value” in the US dollar. Alternately
though, we could breakdown below the 1.05 level and then at that point I
think you would have to start selling again.
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