EUR/USD trading talks November 09
I continue the chain of forecasts for the Euro Dollar, which traditionally come true. However, I must admit that despite the fact that I spoke about the growth of the euro dollar in this POST, I was inaccurate when I said that in the short term I prefer consolidation. But it should also be noted that I clearly pointed to the marker level (EMA 200 and EMA 100 on the four-hour chart) for further growth.
So, the euro dollar rose significantly this week, breaking through the 1.000 level and, after a slight correction, reached the key resistance, which I also previously identified at the level of 1.00930. It is important to note that the daily EMA100 (1.00720) is currently the resistance level and is putting pressure on the price. And despite the fact that the daily MACD is now signaling a continuation of the growth, I would wait until the end of the current correction under the pressure of 1.00720. This level and the key 1.00930 will be a markers for further growth to 1.0200 area.
A short-term decline is signaled by the completion of the third ascending wave within the impulse this week. On the four-hour chart, there is a preliminary MACD sell signal due to the crossover of the signal line. The possible short term corrective decline may reach 1.000 key support level.