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Forex Discussions
Fundamental Analysis
AceTraderFx: Intra-Day Market Moving News and Views
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[QUOTE="AceTRaderForex, post: 201637, member: 22847"] [B]AceTraderFx[COLOR="darkred"] Nov 17: [/COLOR]Intra-Day News and Views & data to be released today –EUR/USD Intra-Day Market Moving News and Views[/B] Update Time:[B] 17 Nov 2021 [/B][I]05:30GMT[/I] EUR/USD - 1.1323.. The single currency languishes near Tue's fresh 16-month bottom at 1.1309 in subdued Asian morning as y'day's resumption of recent downtrend after robust US retails sales n rally in US yields had almost wiped out nearly all die-hard euro bulls (although price staged a short-covering bounce fm 1.1331 to 1.1355 after the data before falling), so 'sell euro on rally' strategy may not work, however, as market is pretty short on the euro, further steep fall without bearish fundamentals is unlikely to be seen. As the trend is your friend, selling euro again on recovery in anticipation of resumption of downtrend to 1.1291 (being 61.8% r of 2020 low at 1.0637 to 2021 high at 1.2349) is favoured, however, reckon minor daily chart sup at 1.1256 should remain intact. Offers are tipped at 1.1335/45 n more abv with some stops touted abv 1.1355 n bids are noted at 1.1310-1.1300 (profit taking) with stops below there. The euro area countries will release a slew of data, pls refer to our EI page for details. ECB's Schnabel will speak at a financial conference at 14:00GMT n then ECB President Lagarde will appear at an event at 18:30GMT. [/QUOTE]
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