After a series of data from the US market today broke the bottom of the lasting four days of consolidation continuing downward trend. In the near future we expect a re-test of the defeated today support (now resistance) coinciding with the level of 38.2% Fibonacci correction
Investing in pairs with USD its worth considering today’s at 20:00 FOMC minutes from the November meeting of the central bank. Reactions of prices on a regular basis you can follow in the Markets Live. Several minutes after publication, the summary will also appear on the website.
Despite many predictions and hopes of investors associated with the slowdown in growth and the rejection of the resistance area around level 111.25 market dynamic increases defeated today mentioned level. If in the near future there will be no strong reaction of the supply side, we expect to test area level at 114.60.
As a result of today’s dynamic declines market defeated today an extremely important level of 1200.00. If in the near future this breakout will not be negated and as a result of today’s FOMC minutes market declines deepen, then very likely we could have bearish scenario to continue moving to the south, even in the vicinity of the level of 1110.00