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Daily technical analysis – 8 November 2013
EURUSD This pair is trading a little higher this morning, as it continues to pare some of yesterday’s huge losses. The pair fell 200 pips following the ECB rate decision, which came on top of another 200 pip drop over the last week on speculation of such a rate cut. The collapse in the euro has put an end to the clearly defined up trend that the pair had been in since July. The bearish market bias may be confirmed in the coming days if the pair attempts, and fails, to break back above the ascending trend line around 1.3465. That said, it may not get that far, having found resistance yesterday around 1.3450, 61.8% ... (full story)