Trader_97

EURUSD TRADES ABOVE 1.08 AHEAD OF USD RETAIL SALES DATA

FX:EURUSD   Euro / U.S. Dollar
51 0 2
EURUSD JUMPED PAST THE RESISTANCE AT 1.0788 AREA YESTERDAY AND EXTENDED ITS GAINS SLIGHTLY FOR THE DAY WHEN THE FEDERAL BUDGET BALANCE CAME IN AT LATER , CURRENTLY STILL TRADING ABOVE THE 1.08 AREA AND AT 1.0808.PRICES STILL BELOW THE 100 DAY SMA AND 50 DAY EMA .WE BROKE ABOVE THE T.L RESISTANCE FROM 2ND OF NOVEMBER 2015 YESTERDAY AND POSTED A HIGH AROUND 1.0830.SO NOW OUR SUPPORT STANDS AT 1.0788 AREA AND RESISTANCE IN FOCUS NOW IS 1.0830-44 AREA.ABOVE IT RESISTANCE LIES AT1.0894 AREA.KEEP IN MIND THE T.L RESISTANCE FROM OCTOBER 15TH REMAINS INTACT.WHICH COULD STILL PLAY ITS ROLE BY SENDING THE EURO             BACK LOWER.ALSO WE HAVE LOT OF USD DATA RELEASING TOMORROW.IF THE DATA PRINTS ARE GOOD ENOUGH FOR THE DOLLAR PROVIDING SOME SUPPORT TO IT THEN THE SCENARIO AND TRADE IDEA POSTED IN THIS ARTICLE SHOULD COME INTO REALIZATION. MACD CONTINUES TO MOVE IN BEARISH TERRITORY AND STOCHASTICS MOVING AROUND THE 40-50 RANGE SO NOT MUCH TO SPEAK ABOUT THE INDICATORS
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