Currently this pair is back at the Mid term congestion zone where a ranging may happen again until break out of the by .
Possible range :
Possible trading range for next month is somewhere inside 1.280-1.3065.
Last Friday this pair is closed right key resistance of the new High-Low, the condition of the next will determine if this pair can break it or just bounce off the fib. key resistance with a first objective at 1.285 for the next possible ranging trade and extension target at 1.251 if the is quite strong.
Important events for next week :
Next week I'm expecting an interesting week of trading because we have so many Bank Statements released
- RBA Interest rate decision, BoC Interest rate and Rate statement (Dec 04)
- Another EcoFin meeting (Dec 04)
- BoE Interest rate decision, ECB Interest rate decision (Dec 06)
- ECB statement and press conference (Dec 06)
- Plus some GDP and NFP reports