Tuesday, February 20th, 2018

Forex Daily Outlook November 13, 2009

Happy Friday the 13th everyone. The euro came off pretty strongly overnight as another attempt past 1.5020 failed. We have now backtracked to the 61.8% retracement level and a break below 1.4800, specifically a close below 1.4800 will lead us to believe the dollar may start a rally. Its also plausible to believe that we may see a range until we firmly close below the 1.4680 level, a clear level of support for the Euro. These are interesting times and our bias remains to short the dollar; however, failure to breach 1.5050 several times has us concerned about the strength of the euro. We may be seeing a shift in sentiment. Were looking to see if higher lows continue to form, confirming our bias. If youd like a more detailed analysis with potential trade opportunities during our live trading session, please join us in the members area by visiting www.spoteuro.com

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