Looks to me that EURUSD might test the lower side again…watch Support in 1.08250/300 closely….If bellow, as I said earlier , it can slide 100 pips easy…not in one move of course 😀 Major support awaits at 1.07350
odds are – according to me – that market is going into ying yang mode for a while and favour those with tight spread, quick on the trigger and fast connection and fast dealer execution
I’ll offer my 2 cents (overvalued at that).
Treasury QRA less than expected maybe provokes some USD demand. But maybe they’re lying too. So maybe doesn’t provoke. Increasing threat of escalation in the Middle East? Maybe sees flight into USD.
Fed? Maybe more likely than not they eases off the inflation mantra and start to set market up for limited cuts -> USD negative to some degree.
NFP? who knows. At the end of the day I’m of the mindset its a made up number.
That it’s frolicking around the 200 day fools game levels maybe is no accident in the land of the non-committed….
EURUSD
The pair is trying to turn Up , as the FOMC is approaching this week.
Resistances are at 1.08400 and important one at 1.08850 – break of would open the way for attack at 1.11000
Immediate support comes at 1.08250/300 and needs to hold for any reasonable attack of the resistances.
Major support comes at 1.07350
Buying EUR intraday is a way to go – and always watch for that 1.08250/300…if goes bellow, count on 100 pips lower easily.
