General as well as macro overview for 18/11/2015: The FOMC coming together minutes are scheduled for unloose at 7:00 pm GMT as well as are the most expected macroeconomic outcome for today equally they may cast to a greater extent than or less low-cal on the primal bank's intentions inward December. The latest tilt was far to a greater extent than hawkish than the markets had anticipated as well as it post quite a clear message nearly a possible short-term involvement charge per unit of measurement hike this twelvemonth inward December. Two weeks after, the NFP study rhythm out all expectations, which satisfied Fed policy makers for sure. Today's Fed minutes powerfulness expose how rigid the charge per unit of measurement hike consensus is amid policy makers equally the Dec charge per unit of measurement hike has gone from 35% chances earlier concluding months tilt to 64% chances now.
The EUR/USD duet is soundless trading within of the weekly range, nevertheless in that place are to a greater extent than or less signs that a possible impulsive moving ridge progression to the downside had begun already. The electrical flow counts indicates a possible moving ridge three greenish target projection as well as thence a corrective re-bound towards the grade of 1.0833. If this grade is violated, it powerfulness mean, the moving ridge D dark of the triangle had been completed as well as similar a shot moving ridge eastward dark is inward progress. If this grade is capped thence a possible moving ridge iv greenish exceed would endure inward house as well as downside tendency continuation is anticipated.
Support/Resistance: 1.0588 - 1.0578 - Projected Target Zone for Wave three Green (higher cycle)
1.0588 - WS2
1.0630 - Wave iii Bottom
1.0660 - WS1
1.0743 - Weekly Pivot
1.0751 - Wave iv Top
1.0812 - WR1
1.0833 - Wave iv Purple Top (lower cycle)
Trading recommendations: Traders should house purchase boundary orders at the grade of 1.0588 amongst tight SL as well as TP opened upwards for similar a shot ( for longer term traders TP=1.0833).
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