Uncertainty Ahead
What's on for 22nd November 2018
The US Dollar strengthened by a flight of safety which reversed the upward move of EURUSD towards 1.1500 although the dollar bulls seem to have slowed down for thanksgiving day.
Rebound in Italian bonds and European equities has given some lift to the EURO today, however the uncertainty over the Italian debt situation and Brexit still looms over this pair.
What can we expect?
Should the issues surrounding the Eurozone has a negative development or delays to be resolved, this could weaken the Euro.
On the other hand we also monitor if the USD could continue to strengthen in the upcoming days.
What to Prepare for?
Price is now ranging at the important 1.1400 level, if price dips below this level we could see it heading down towards the support level before bouncing back up towards 1.1500. We would look to be selling this pair.
Should price bounce off from this level we would be more cautious to buy, keeping in mind the fundamental reasons while doing so.
The US Dollar strengthened by a flight of safety which reversed the upward move of EURUSD towards 1.1500 although the dollar bulls seem to have slowed down for thanksgiving day.
Rebound in Italian bonds and European equities has given some lift to the EURO today, however the uncertainty over the Italian debt situation and Brexit still looms over this pair.
What can we expect?
Should the issues surrounding the Eurozone has a negative development or delays to be resolved, this could weaken the Euro.
On the other hand we also monitor if the USD could continue to strengthen in the upcoming days.
What to Prepare for?
Price is now ranging at the important 1.1400 level, if price dips below this level we could see it heading down towards the support level before bouncing back up towards 1.1500. We would look to be selling this pair.
Should price bounce off from this level we would be more cautious to buy, keeping in mind the fundamental reasons while doing so.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.