Forex Guides

EUR/USD Midweek Update 21 Nov 18

Hey everyone!

I hope the pips are giving you a good harvest. The beautiful thing about forex is no matter if the currency pair is rallying or crashing, there’s pips to be earned. That is if you are on the right side of course! 😅

We drop down to the daily chart of the EUR/USD and discover that 1.14 is doing what it probably like the most. That is being the centre of attraction!

It can be seen that the currency pair tried to rally but was denied by the upper bollinger band and sent back to the 1.14 region.

Likewise, the bears tried to start a party of their own and was stopped by the middle bollinger band. The 1.14 region may be functioning as a pivot for now.

The current sentiments are seen as one of caution. The US Fed dovish suggestions for 2019 is probably pushing off some US dollar demand. Across the Atlantic in the euro zone, reports mention that the Italian government may be willing to explore budget changes. This is seen as positive for the euro zone however we should monitor the price action for now as more economic data is due for this week.

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