Weekly Forex Market Update & Key Levels Nov 16 – 20th

WEEKLY FOREX UPDATE

EURUSD – The Euro had another bad week, comments from the ECB that they will intervene in the market to provide the necessary liquidity and the US stock market taking a nose dive fueled upward pressure for safety and into the US dollar. I would expect further sideways price action until the trading range has been broken. Watch for setups on the 1.04025-1.15025 levels.

EURUSDWeekly-15112015

US30 – The notion of the Fed raising interest rates in December is having an impact in the market since late summer 2015. The US stock market is experiencing lower lows and lower highs and is in a clear downtrend from last week’s price action. Strong moves to the downside will likely continue until 16980-17000 level is reached, at this point buyers may come in from a strong technical support zone.

US30Daily-15112015

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Chris Ferreira

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