EURUSD Daily correction scenarios (details in comments)

3 nov 2016

So there's a reasonable expectation for the EURUSD to correct after the huge rise seen these days. There are several old zones (suports and resistances) that could work, yet the H4 could prove evidence otherwise. Fundamental factors do in fact point to EURUSD not getting back to the pre-draghi levels in my opinion, but it rather depends on the NFP data tomorrow and the elections outcome among other factors. If it rises further, there are also old resistances that could act before getting to the previous levels. Let's see how it untangles!

3 nov 2016

Nota

Hipothesis 2: bullish case H4

The present bullish MAs in the lower time frames could act as support, in this other scenario we have other resistances, yet I really think bulls should be a bit exhausted already, but anything can happen.

3 nov 2016

Nota

Also, for hipothesis 2 (bullish) there is another case which connects with a previous trendline