EURUSD rose to trade at 1.07628, in the deficiency of any significant economic event from the U.S.
Guys today a main center of focus is at the ECB Press Conference as well as the Minimum Bid Rate from ECB.
In my view, they are prone to keep the rate stable near to zero, but traders should have a close eye on it as in the case of any shock, there will be a huge move to catch. Overall the high to low movement remained 53 pips with a high of 1.0766 and a low of 1.0709.

EUR

French Final Non-Farm Payrolls q/q
Minimum Bid Rate
ECB Press Conference

USD
Consumer Credit m/m
Unemployment Claims

Daily Trading Range:

1.0950 – 1.0600

Support & Resistance Levels

R3: 1.0802
R2: 1.0779
R1: 1.0765
Pivot Point: 1.0743
S1: 1.072
S2: 1.0706
S3: 1.0684

Recommendation

Buy Above: 1.07990
Take Profit:
1st @ 1.0810
2nd @ 1.08310
Stop Loss @ 1.0750

4 thoughts on “EURUSD Daily Market Updates (8th Dec, 2016)”

  1. Maryna says:

    Hi Arsian, am I reading your trade correctly? A 11-pip trade?

    1. Hi, Thanks for your comment. i modified a stoploss

  2. Maryna says:

    Hi Arsian, it’s not just the SL, but the trade is a 11-pip trade!

    1. If you have not noticed already, i also added 2nd TP.
      Both Done. Cheers..!!

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