Previous Week (Nov 16-20)

O: 1.4956 H: 1.5015 L: 1.4800 C: 1.4860

Last Week (30 Nov – 4 Dec)

O: 1.4868 H: 1.5143 L: 1.4827 C: 1.4967

Expected for this week:

This pair made a higher high and higher low on the weekly so we may have some bullish expectations for the week
However, the huge rejection shows that the pair is rather unclear as to where it will be heading for the week.
Moreover, the “Dubai” news rattled the markets a little so fundamentals did play a part in making the dollar stronger due to risk aversion.
With numerous data due for the upcoming week, we may be in for a ride on this pair as we will be seeing a mix of sideways movements and wild swings on this pair.
Keep a tight stop loss and modest TP.
We will see 1.4950 being revisted often as this pair decides on a clear footing.

Resistance: 1.5215, 1.5144, 1.5090, 1.5063, 1.5022,

Support: 1.5011, 1.4984, 1.4966, 1.4933, 1.4884, 1.4865, 1.4827, 1.4732, 1.4477

Weekly Fibo:

1.5143 100

1.4986 61.8

1.4890 50.0

1.4810 38.2

1.4732 23.6

1.4477 00.0

Fundamentals:

Tue – EUR/NY Wed – NY Thu – EUR/NY Fri - NY