Hey Fellows, hope you enjoyed the previous analysis.
Today is an important day as it is a day of U.S Presidential Elections, the market can behave in the highly unpredictable way. So I may recommend you to stay cautious with your trading decisions. Follow proper money management to secure yourself against the risk.

EURUSD dropped dramatically as the U.S Dollar rallied on Clinton took the advance in pre-presidential elections polls. Besides, the Greenback also continued to trade bullish as the NFP and Unemployment figures were in favor of the economy. EURUSD rose to 1.1180 to fill the gap.
Fundamentals:

EUR:
• German Industrial Production m/m
• German Trade Balance
• French Gov Budget Balance
• French Trade Balance
• ECOFIN Meetings

US:

• JOLTS Job Openings
• Presidential Election
• Congressional Elections

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: 1.1142
R2: 1.1110
R1: 1.1091
Pivot Point: 1.1059
S1: 1.1027
S2: 1.1008
S3: 1.0976
Recommendation
Sell Below: 1.1025
Take Profit:
• 1st @ 1.0965
Stop Loss @ 1.1060

EURUSD- Chart

2 thoughts on “EURUSD Daily Market Updates (8th Nov, 2016)”

  1. Maryna says:

    Fantastic posts and your scalps are brilliant. Thank you for your analysis and trades. I hope the Forex.Today group are following your trades.

    1. Thanks Maryna, Really appreciate your comments. Cheers ..!!!

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