Tuesday’s Nov 27th midday analysis -13.00 GMT
EurUsd traded inside yesterday’s range so far coming down from a high of 1.4880 and made a daily low at 1.4815. It’s clear that the market has entered into a small consolidation period on the smaller timeframes but we maintain for the moment our bullish sentiment while trading above 1.4800.
Cable printed a new high at 2.0755 before starting to move lower and found support at yesterday’s 50.0 Fib retracement line. While we’re waiting for the US session to begin the pair has tested the lows a few times and appears to make a new attempt of breaking south, below today’s low at 2.0665 we have the daily 2.0650 support level that should keep the pair from slipping.
Tags: cable, euro, midday technicals
