theangelwing

Next Month on Euro

FX:EURUSD   Euro / U.S. Dollar
326 0 0
US Fiscal Cliff             helps to push the Euro             higher and make a new low on November 2012.

Currently this pair is back at the Mid term congestion zone where a ranging may happen again until break out of the support/resistance by trend line .

Possible range :
Possible trading range for next month is somewhere inside 1.280-1.3065.


Fibonacci Retracement :
Last Friday this pair is closed right key resistance of the new High-Low, the condition of the next candlestick 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 bearish trend 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 Monetary policy statement and press conference (Dec 06)
- Plus some GDP and NFP reports
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