EUR/USD: Daily Analysis
Nenad Kerkez | Dec 04, 2014 05:26AM ET
2340-50 for a possible short term setups
On EUR/USD we see a nice that the pair has formed a nice equidistant channel. EUR/USD is in strong downtrend and the pair is making the confluence with 23.6 fib, previous sellers, H3 and DPP. POC point is also touching previous sellers zone, so short term trades to the short side might happen around 2340-2350. Breakout retest has happened at 2375 level so EUR/USD should target 2290 again after a pullback to POC. ECB conference will be held today with minimum bid rate announcement , so its advised to close all your short term positions prior to ECB.
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