Weekly Forex Market Update & Key Levels Nov 9 – 13th

WEEKLY FOREX UPDATE

EURUSD – The Euro had another rough week amid comments from the Fed suggesting to increase interest rates in December. Ironically, the Fed also hinted that negative interest rates is not out of the question which leads me to believe that anything could happen in December. I expect further confusion and sideways movement in its current range for the EURUSD market. I do hold a slight downside bias, at least to the March 2015 lows.

EURUSDWeekly-071115

US30 – The stock market correction we have seen in the late summer has officially recovered. I do expect a slight pause at the 18200 level if it reaches at that level. However, the stock market overall is highly overbought and I would stay on the side lines for now.

US30Daily071115

Have a good week out there and remember that these markets can behave irrational longer than you can remain solvent. Cut your losses on losing trades!

Safe trading

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Chris Ferreira

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