-
Published on Nov 4, 2016
The
EUR/USD pair fell initially on Friday, but turned around to form a
supportive candle. However, I see a lot of resistance above at the
1.1150 level, and with that being the case is likely that the sellers
will return. That’s at least until we get the US presidential election
numbers, and we won’t have those until late Tuesday, possibly even early
Wednesday. Because of this, I feel it’s probably best to sit on the
sidelines as the market probably will do much in the way of volatility
until we know what’s going to happen. On the other hand, if we break
down below the bottom of the candle could be a negative sign. We could
get a surprise headline during the course of the weekend, and that of
course could have trader’s jumping into the market during Monday’s
trading hours. Unless we get something like that, it’s very unlikely
that the markets will be doing much.
No comments:
Post a Comment