The news sparked a veritable euphoria at the opening of Monday’s trading. It strengthens the dollar pairs with all currency and futures on US indices are gaining almost 1.5%.

This is not a good start of the week for the bulls trading on EURUSD. Friday’s closing in the region of 1.1140, was the highest achieved by EURUSD level in nearly a month. Meanwhile, at the weekend comes information from the FBI, that the agency withdraws from accusations concerning presidential candidate Hillary Clinton mails, due to lack of sufficient evidence.

The news sparked a veritable euphoria at the opening of Monday’s trading. It strengthens the dollar pairs with all currency, and futures on US indices are gaining almost 1.5%.

EURUSD after breaking upper limit and leaving the downward channel has gained in less than two weeks 290 pips, and this movement took place without any significant correction. And this lack of prior correction is now regained. Price arrived actually to support at 1.1050, however, is more likely the downward movement to deepen. Next support is located at 1.1000 and is strengthen by the abolition of fibo 50% of that prior upward movement, but close to support is 1.0970 fibo 61.8%. If, however, there is a rebound ,than next resistances are located on levels: 1.1120, 1.1150, 1.1250.2016-11-07_analiza_eurusd_h1

2016-11-07_analiza_eurusd_h4

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Author of worldtrader.pl blog and big supporter of technical analysis. Active medium-term trader. In his analysis uses classical charts, price action as well as harmonic patterns and Elliott Waves. In trading he always tries to take into account two points of market's view, in accordance with the principle that each transaction may be attractive both for the demand and supply traders.