EUR/USD Weekly Analysis 7 Dec 15


Last week had quite a significant impact on most of the currency pairs that involves USD and today we will guide you in trading EUR/USD for this week.

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NFP on Friday moved the price which could be used for pullback trading in current trend direction. If we get a pullback towards the POC, there should be another leg of buying. POC1 comes in 1.0760-80 zone (EMA89, 50.0%, Previous swing) and POC 2 comes in 1.0700-20 (H3, 61.8. MPP) . We need to use monthly camarilla PP for EURUSD analysis, due to an huge pip movement last week where all Weekly and Daily pivots have been broken.

If we get another leg of buying and 1.0650 stays strong we could see another retest of 1.0950 followed by 1.1000 and 1.1050 – H5 Monthly camarilla pivot.

Fundamentals

Most of this week there will not be any major news coming from either Europe or the States until Friday. However, the amount of data released on Friday will be quite large and it may have a very serious impact. This is why it is advised to close all of the EUR/USD positions before Thursday noon.

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