Feds is expected to raise interest rates this December and with the ECB deciding to keep interest rates unchanged, we are more likely to see more bearishness on this pair

Pink: resistance
Yellow:50.0 – 61.8 fibzone
Gold: 38.2 – 50.0 fibzone


it was in the yellow Fibzone when we were awaiting the rates news from the ECB. With rates staying the same, the pair dropped to 1.06283. with the pair about to reach it's all time low, we might see some stagnant before the drop


The pair was ranging for the past two weeks waiting for the news. Even though the stochastics is close to oversold, we're more likely to see it stay oversold for sometime


With market speed reflected by the 21 EMA (Red line) and 55 EMA (Blue line, we're more likely to see a retracement to the Gold fib than the Yellow, and a drop to the 2nd support zone my target

Leave a Reply

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