EUR/USD: Despite disappointing numbers on NFP, the USD seemed to recuperate


November 16, 2017 08:55 PM

BEARISH

Daily Trading Range: 62
EUR/USD: Despite disappointing numbers on NFP, the USD seemed to recuperate quickly after the initial dip provoked by the annoucements or the beginning of the month, and very few fundamentals last week. As for the technical indicators, the pending retracement bearish seems to have vaporized, and once again the USD seems ready for another bullish push. Traders should wait for alignment with the 2 hour stochastic before looking for the next USD strength entry. If the USDOLLAR will be rallying, expect USDOLLAR BASE currencies to RALLY and USDOLLAR QUOTE currencies to DIP. 

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 1.2090
Resistance 2: 1.2030
Resistance 1: 1.1830
Current Price 1.3750
Support 1: 1.1700
Support 2: 1.1660
Support 3: 1.1610

Two Hour Chart

Two Hour Chart

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