Kav1ka

Euro Bounces Back & Taking The Realm

Long
OANDA:EURUSD   Euro / US-Dollar
Despite a slight weaker data from the Eurozone, Angela Merkel winning the election, and Federal Reserve looking for ways to raise interest rates once again, Big players found a perfect excuse to take profits amidst of it all. A quick look at tomorrow's economic calendar as consumer confidence for the U.S. should give us a bit of an insight into labor force sector ahead of Janet Yellen's speech. Technically speaking, EUR/USD is near strong support level @ 1.1790 which completes the ABCD move off the top. Even though talks about raising interest rates for USD, this scenario cause for "Buy the Rumors and Sell the Facts". Expecting volatility in coming days. Cheers folks, and happy trading.

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