EURUSD continued its bullish impulse for constant 4th trading day as the investors are yet concentrating one the political pressures and doubt caused by the U.S Presidential Elections. As suggested in the preceding report, the EURUSD reached the target level at 1.1058 subsequent selling at 1.1125. The pair has surprisingly initiated a day with a gap and it’s expected to maintain the same behavior tomorrow as well.

Fundamentals:

EUR:
• German Factory Orders m/m
• Retail PMI
• Sentix Investor Confidence
• Retail Sales m/m
• Eurogroup Meetings

US:

• Labor Market Conditions Index m/m
• Loan Officer Survey
• Consumer Credit m/m

Technicals:

EURUSD is trading presently beneath a major resistance level of 1.1125 and it is expected to linger beneath this level. The significant resistance is located around 1.1125, while the support prevails at 1.1010 and 1.0975.

Support & Resistance Levels

R3: 1.1141
R2: 1.1120
R1: 1.1106
Pivot Point: 1.1086
S1: 1.1065
S2: 1.1052
S3: 1.1031

Recommendation
Sell Below: 1.1080
Take Profit:
• 1st @ 1.1035
• 2nd @ 1.1015
Stop Loss @ 1.1110

EURUSD Chart

One thought on “EURUSD Daily Market Updates (7th Nov, 2016)”

  1. ngqaza-t says:

    your trades are very good man keep posting Thank you!!!!!!

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