Dmitri Lysenko
EURUSD has been showing a stable upward retracement against the mid-term downtrend since Monday. It looks fairly promising from the standpoint of a potential trend reversal.
The current market sentiments are rather controversial: some show positive sentiments, others warn that this is only the beginning, with the worst is yet to come next year. Some pessimists say that EUR may even reach parity with USD.
Today’s major news blocks are to come out at 8:30 and 9:00 GMT (European trading session) as well as at 12:30 and 18:00 GMT (American trading session).
For today the Department of Volume Analysis of has defined the following trends:
The mid-term trend of EURUSD is bearish
The short-term trend of 6ЕZ1 (EURUSD futures) is the following:
Today’s max volume cluster 1.3632 (over 24000 lots of trading volume) is the current reference point. Once the price consolidates above the level, the bulls will get a chance to take over the initiative. Otherwise, the downtrend will be continued.
Dmitri Lysenko
