Yesterday the common European currency updated another local low at 1.3445, showing that the bearish sentiments are still strong enough.
This week’s focus of interest will be the Federal Reserve Chairman Bernanke’s speech. Most analysts expect that Mr. Bernanke will try to justify the FOMC decision to loosen the monetary policy. Probably investors didn’t initially like such actions of the Fed Res, dooming them to failure.
The following news blocks may cause a serious reaction at the markets: at 09.30GMT (GB), including CPI, Retail Price Index and DCLG HPI, and at 13.30GMT (US), including PPI.
The Department of Market Volume Analysis, Masterforex-V Academy, has defined for today, Nov 17th:
The mid-term trend of EURUSD is downward
The short-term trend of 6ECONT:
At this point the main reference points at the market are 1.3475, which is the level of yesterday’s volume clusters (3.700 lots), and 1.3522. A breakout of one of the levels with settlement above/below it will help to make further trading decisions.
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