and the.0770 may entertain the Bears. Forex Daily Outlook November 15, 2018. Looking at this chart, its easy to see that the market has settled into this range and quite frankly this pair can do that for long periods of time. EUR/usdgiven the eurusds extended downturn beneath.1300-1.1285 support-area, comprising 200-week SMA, the pair is likely to avail the.1120 and the.1020 rest-points prior to meeting the.1000 round-figure. Quite frankly, a scenario that we have seen recently is that the European sell everything they can, and the North Americans pick it up later in the day. Beyond that, it is more of a risk on move, as the Americans came in and picked.
This is a market that has just had a major blow off top, and I think we are going lower from here. Its retracement zone.1498.1559 is resistance.
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The Euro has been rather choppy during trading on Tuesday, hanging about the.16 level. Its retracement zone.1498.1559. A sustained move under.1496 will indicate the presence of sellers. I think that the EUR/USD pair is close to forming a longer-term bottom, as we are where significant support and resistance has been found over the last year. The inability to take out the October 9 bottom.1432 may have also encouraged investors to take profits after this weeks steep decline. Obviously, this will change eventually, but right now it seems to be a relatively reliable trade. That would take a serious ramping up of the fear, so Im not package handler work from home jobs overly concerned about that right now. If this move can create enough upside momentum then look for a potential move into.1549.1559. Overall, I think that market participants are going to be cautious, but the grind continues. The main trend is down according to the daily swing chart. Since the trend is down, sellers could come in on a test of this level.