The EUR/USD has Done an About-Face: Watch these Levels

The Euro has had an interesting week from a trading point of view. And it hasn’t been a particularly easy trade this week in my opinion. The FOMC and it’s meek outlook caused a fall in the USD, which spiked the EUR/USD. Then an equally uneventful ECB caused it to drop back down.

I’m looking at this one from a longer-term perspective and I think that we might just see some more downside to come in the EUR/USD.

There’s every chance we get some traction on the US tax cuts over the next few weeks and that will spur the USD. Otherwise, we are going to be heading into a relatively quiet period.

I’m looking to sell bounces as they occur. I think the technicals will be more important than ever as we see newsflow and volume decline into the final weeks of the year.

Key Support and Resistance Levels

ABOUT THE AUTHOR See More

Rowan Crosby

Asia-Pacific Analyst

Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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