Euro Gives Up a Bit Again Trade $EURUSD here:
In fact, the markets have priced in two interest rate hikes from the ECB, something that will never happen. The job situation in the European Union alone will cause some problems. With this being the case, the market is likely to continue hearing a lot of questions asked about whether or not the ECB can hike, and quite frankly I think there will have to be a reevaluation of the entire situation. If we break above the 1.
The candlestick is rather small, just as the Friday candlestick was. The Friday candlestick is a shooting star, so if we break down below the 1.14 handle, that would confirm that potential selling opportunity, although I think there is support underneath at the 50 day EMA. This is a market that will be very noisy and continue to go back and forth, so you should probably be small with your.
Clearly, it certainly looks as if we made an attempt, but we have not had the follow-through yet for a longer-term trend change.
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