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.
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