EURUSD downside capped at around 1.16000

EURUSD has previously found support at around 1.16000 which saw the currency pair bounce from twice. It is possible EURUSD will be fall back down to this level on anticipation of expected Fed rate hike in December.  However, much of this expectation is already priced into the market as of now which leaves room for little downside risk for the currency pair. Also, GOP inability to come to a consensus on tax reform as well as lower than expected inflation data released on Friday can help keep the dollar on the weak side.  Additionally, the 100-day EMA is just below and will provide further support around this key area.

MPW looking to bounce off 100 day EMA on healthcare turmoil

Recent political turmoil regarding a series of White House executive orders has caused healthcare stocks to fall over the last few days. MPW is specifically affected since Trump's cancelled CSR payments can cause serious financial problems for hospitals. It's possible the stock will break below its 100-day EMA, however given the continued higher lows since November 2017, the downside risk is quite low. 

State AGs are already looking to file lawsuits against the recent Trump executive orders which could slow down the White House's agenda in ceasing the CSR payments. However, if there are signs that the lawsuits will fail you may see MPW head for the downside. Also, a bipartisan deal among lawmakers can make sure the CSR payments continue which is bullish for MPW.

At the height of the Republican Obamacare repeal effort in March, MPW had reached as low as $12.00, a key fibonacci level. However, since then the stock has been steadily climbing. Even on news of the signs of failure of the lawsuits against the White House, it is highly unlikely MPW will reach as low as $12.00. A bounce off the area of $12.75 and $12.50 seems more likely. Otherwise we may just see MPW bounce off its 100-day EMA and continue upwards, perhaps on speculation that Trump's executive orders being rendered impotent in the courts.

DXY: quick big picture analysis

As you can see in the monthly chart, DXY has bounced off the key support around the 91.30 to 92.00 level once and might possibly bounce off of that level again after hitting it in August through September. However, this comes after a very strong down trend with large red candles. Along the slightly dovish FOMC minutes recently released as well as the lower than expected inflation reading, the case for further downside is quite strong. Additionally, the Republican's waning chances at obtaining significant tax cuts further weaks the dollar. On the other hand, jobs and unemployment data remains strong. 

The next rate hike in December is almost fully priced into the market as of now. The few who would still be surprised by the time December comes around will be a thin crowd.  Therefore, further downside risks for DXY, in the case of no rate hike in December, are significantly stronger than surprises to the upside. Also, traders will be looking to statements from Fed officials as to clues for pace of future rate hikes beyond December. This should also provide further potential for downside movement in the dollar.

RSI and MACD indicators also suggest further downside bias.