The common European currency is currently retracing against the rapid growth seen over the last few weeks.
The market indicates negative sentiments: numerous countries are not satisfied with the Fed Reserves’ monetary policy (emitting $600B of extra dollars) while investors prefer to wait until the end of the G20 summit for fear of greater risks. Today’s accelerator of the market activity may become the news on the EU (9.00GMT) and the US (14.55GMT).
For today (Now 12th) the Department of Volume Analysis of Masterforex-V Academy has defined:
The mid-term tendency of EURUSD is bullish
The intraday dynamics of the 6E futures (EURUSD):
At this point the key level is the max volume cluster at 1.3617 (2500 lots). An upswing from the level can provoke a wave of EUR buys, making it gain in value. Until then the bearish sentiments will be pressing the currency pair.
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