Ivan Zhigalov
It would be too untimely to say that that the common Euro currency has already started recovery. However, it seems to have made a few significant steps towards it. EURUSD is nearing its last week’s price levels. The recovery signs are getting more and more evident. The technical picture also favors the bulls.
There are few news releases scheduled for today (US news block at 14:00GMT)
For the current trading session the Department of Volume Analysis of has defined the following tendencies:
The mid-term situation of EURUSD: possible change of trend
The short-term situation of 6EM1 (EURUSD futures) is the following:
1.4310, which is one of the most significant volume clusters of the contract (22.000 lots), will help to clarify the market situation. If the breakout we cans see now proves to be genuine the “bears” will get a chance to take over the initiative and press the Euro currency. If the “bulls” get the price back to the level and initiate an upward momentum form it, we will see EURUSD rallying in the short run.
Ivan Zhigalov
