The German Manufacturing PMI falls 51.5, from 51.8 a month earlier. Missing a forecast of 51.8 in the last month. The EURUSD crashed on the negative news from Germany. Slipped below 1.1300 level. At the moment trades around 1.1300 level. Immediate support comes 1.1285 level ( static daily chart support). A halt is likely, it may test 1.1315/1.1330 before attempts to break below 1.1285 level.
Now, the focus will be on U.S retail sales data at 13:30 GMT. Analysts expect a fall to 0.1%, from 0.8% a month earlier. Core Retail Sales is also expected to fall 0.2%, from 0.7% in the previous month. Anyway; U.S data should bring a selling opportunity.
According to the one hour chart; The pair broke below the symmetrical triangle suggesting a strong bearish momentum so selling the pair on the bounce to the upside is recommended. But on the 4-hour chart, the pair slipped below a larger symmetrical triangle suggesting a strong bearish move. Almost 35 minutes is left for the next H4 closure. Check the post back for updates…
Support: 1.1285, 1.1250, 1.1215
Resistance: 1.1330, 1.1360, 1.1392
Suggested Reading:
EURUSD Daily Forecast Dec 10 2018
USDJPY Daily Forecast Dec 12 2018
GBPUSD Daily Forecast Dec 10 218
Quality articles or reviews is the important to attract the
people to visit the website, that’s what this web page is providing.
Your thinking on trading are impressive, I’m going to drive some of my readers right onto your pathway.
Hey would you mind sharing which blog platform you’re working with?
I’m planning to start my own blog soon but
I’m having a difficult time deciding between BlogEngine/Wordpress/B2evolution and Drupal.
The reason I ask is because your design and style seems different then most blogs and I’m looking for something completely unique.
P.S Sorry for being off-topic but I had to ask!
I’m just fulfilled with your careful method, let us link up some time.
Comments are closed.