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EUR/USD moving towards support area

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This is a quick follow-up to my last post about the strong move we've seen post-ECB last week. As expected the Euro is now pulling back, coming close towards a possible strong support area.

So you might want to keep an eye on this market around 1.0975-1.1050 for a short- to medium term bounce.

PS: As a systematic trader I won't take a trade based on my opinion and a few lines in a chart. But I wouldn't be too unhappy to get a buy signal for tomorrow from one of my systems ;) 

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Marco Mayer

Marco Mayer

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Systematic Trader, Educator for Forex, Futures and Systematic Trading. Check out my full bio here.

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Thursday, 21 November 2024

Derivative transactions, including futures, are complex and carry a high degree of risk. They are intended for sophisticated investors and are not suitable for everyone. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect actual trading results. For more information, see the Risk Disclosure Statement for Futures and Options.