» » Forex Trading: EURUSD Wanders Higher In Narrow Trade. 1.36704 Is Midpoint Of Weeks Range.
Greg Michalowski

Forex Trading: EURUSD Wanders Higher In Narrow Trade. 1.36704 Is Midpoint Of Weeks Range.

By Greg Michalowski on | More Posts By | Forex News By FXDD

The Italian bond yields have continued the move down today – falling to a low of 6.53%. This has helped keep the EURUSD supported and also appeased the stock market players.  Pre US stock market open, the Dow Futures are up 95 points. The Nasdaq is up around 20 points.  Overseas markets are also up with the German Dax up 2% or 121 points.

All of which is good news for the EURUSD and we are seeing a willingness to move and stay above the 38.2% of the sharp move lower on Wednesday at the 1.36261 level. A move below this level will be eyed by bears today. On the topside, the price is approaching the next targets for the pair. They come in at the midpoint of the move down from the November 9th high to the low reached on November 10th. That level comes in at the 1.36704 level. Above that is he 100 bar MA (blue line) at the 1.3680 level currently. 

Today is a semi holiday in the US (Veteran’s Day).  The stock market is open but the will to trade may be limited. There is data at 9:55 AM in the form of the Michigan Consumer Confidence. The expectation is 61.5 versus 60.9 last.

Recent Articles By Greg Michalowski:

Leave A Comment :

Name (required)
E-mail (required - never shown publicly)
Your Comment (smaller size | larger size)
*/ ?>