EURUSD traded bullish, as recommended in a prior report and put high of 1.0941. It is trading at 1.0899 as the Euro as a single currency is supported on larger than anticipated economic figures published the day before yesterday. Furthermore, the US Dollar dropped toward the bucket of currencies on worse than expected New Home Sales figures. The pair traded in a light daily range of 75 pips with a high of 1.0941 and a low of 1.0873.

New home sales picked up in September, though large descending changes to sales in initial months point to a market yet fighting for momentum. Sales ran at a seasonally balanced annual rate of 593,000, the Commerce Department said Wednesday.

Fundamentals:

EUR:
Spanish Unemployment Rate
M3 Money Supply y/y
Private Loans y/y

US:
Core Durable Goods Orders m/m
Unemployment Claims
Durable Goods Orders m/m
Pending Home Sales m/m
Support & Resistance Levels
R3: 1.0981
R2: 1.0953
R1: 1.0936
Pivot Point: 1.0909
S1: 1.0881
S2: 1.0864
S3: 1.0837

Still Active Sell Below: 1.096
Take Profit:
1st @ 1.088 (Achieved)
2nd @ 1.082
Stop Loss @ 1.099

EURUSD Chart

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.