Fundamentals: - As expected the additional QE fell short of what the market would have liked to have seen and caused a substantial rally after the initial announcement. We think this rally is unjustified under the current monetary policy divergence between the Euro and the USD and still expect to see parity by the end of 2016. We will be looking for a return to the downside next week.
Technical’s: A very volatile price action on the euro at the end of the week, as we rejected the daily lows and the 2 significant support levels at 11100 and 11000, price also formed a higher low on the weekly signalling further upside however the weekly 50 ema has not been rejected or cleared as we once again look for the euro to make reject higher prices or make a lower high in which case we’ll be able to sell further.
learn to trade like a pro for free bankonadam.com
Technical’s: A very volatile price action on the euro at the end of the week, as we rejected the daily lows and the 2 significant support levels at 11100 and 11000, price also formed a higher low on the weekly signalling further upside however the weekly 50 ema has not been rejected or cleared as we once again look for the euro to make reject higher prices or make a lower high in which case we’ll be able to sell further.
learn to trade like a pro for free bankonadam.com