From the FXWW Chatroom – FOMC october meeting minutes are the main event today but it will be later on in the day. We have printed new lows in the EURUSD (1,0631). Looks like the market trusts on a combination of an ECB package plus a FED hike. If thats the case that is in the price already so even if I believe that the EUR will end the year closer to 1 than to 1,10 there is a lot to do and it will not be an straight line. There is very strong corporate demand at these levels and I am pretty sure that we will meet USD supply all the way down. Right now I have no position but I am looking to sell into any 50/60 points spike. Levels to watch are 1.0780 and 1.0900 and main supports lie down at 1.0535 and 1.0465. Good luck.
View further market information in the FXWW Chatroom with a free trial