EURUSD Week 47

Hi Traders,

The EURUSD was quite choppy for most of the week as we came into the 110800 handle; this level aligns with the 50 Fib retracement to the downside.

Price rejected off this level strongly as the market priced in bad PMIs with the dollar finding a bottom too.

Like the GBPUSD the stochastic crossed bearish on 21 Nov. However, it looks like a ranged asset, shown in the box. We should be looking to short it on pullbacks.

The next junction for action may be the 110000 area.

Kind regards,
Aardall