The pair has been trending over the months of October and November with Dollar gains from 1.18000 down to 1.13000 forming a Double Bottom.
looking at our Fibonacci, Resistance has now formed at 1.14500 after a 1.13000 support.
Non-Farm Payrolls, Unemployment Rates and Hourly Earnings have indicated a Strong Economy in the United States of America on the other hand BOE have unchanged Interest Rates and Brexit talks that could leave the Euro down under over the Dollar.
Now if we go back to our chart... should we break 1.13000 we could find support at 1.12500 which is also on the downtrend support line. This will mean edging closer to 1.12000 which was last visited in the month of May 2018.
Geopolitical talks, Economic Events and News Releases shall see us to future Exchange Rates.
This wee we are ti look out for the FED on Thursday and we have Price Manufacturing Index releases throughout the week.
Take Care!
looking at our Fibonacci, Resistance has now formed at 1.14500 after a 1.13000 support.
Non-Farm Payrolls, Unemployment Rates and Hourly Earnings have indicated a Strong Economy in the United States of America on the other hand BOE have unchanged Interest Rates and Brexit talks that could leave the Euro down under over the Dollar.
Now if we go back to our chart... should we break 1.13000 we could find support at 1.12500 which is also on the downtrend support line. This will mean edging closer to 1.12000 which was last visited in the month of May 2018.
Geopolitical talks, Economic Events and News Releases shall see us to future Exchange Rates.
This wee we are ti look out for the FED on Thursday and we have Price Manufacturing Index releases throughout the week.
Take Care!
