This week’s bounce from the EURUSD is no surprise. We’ve been discussing the significance of the support area between 1.0990 and 1.1020 since November 5. In that post, I also pointed out the short-term ascending channel that extends from the year-to-date low. The EURUSD was likely to move into this 1.0990 to 1.1020 area following the November 6 close below 1.1070, which we also discussed. Notice that Thursday’s low was 1.0989, just one pip below the 1.0990 support level I was interested in per my post from two days ago. That 1.0990 handle is also where the EURUSD bounced following the bullish breakout in October. ... (full story)