Forex market – The quotation EUR / USD presents opportunities for speculation in front of the European Central Bank’s decision

The quotation EUR / USD has come under pressure, also that the ADP report (which went better than expected) has fueled the U.S. support the dollar, making this pair a risky target for speculators. Historically, however, prior to the decision on interest rates from the European Central Bank, the price performance condenses, creating an ideal environment for high frequency traders. Although, with the imminent risk event tomorrow traders must wait until the current volatility and look down the price action desired. In addition, low risk may be limited while the pair is operating at a previous congestion area Fibonnacci support only a little below.

Key Technical Levels

The support 1.3802-50.0% Fibo of 1.2444-1.5149 has held once or twice failed a test which could lead to an extended period of consolidation. The last time the pair operated at current levels did not notice for a month range, which added him to its potential importance as a barrier to future losses.

Quantitative Measurements

A Bollinger bandwidth is a factor of concern when considering the EUR / USD as a target of speculation. A resumption of a downtrend after a period of consolidation has led to the price performance for only one direction, reduced the attractiveness of par value. However, we have seen the intra-day volatility in silence, which is favorable to use a strategy of high frequency. One week of 9995 implied volatility is a sign that the condensate from the price performance could continue.

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