FOMC expected rate hike and year end flows tanked the pair towards 1.0800 important support. As we know Christmas and New Year holiday is approaching and both year end flows and profit taking is already happening.
Technically this should be USD positive and EURUSD is seen more down. Possible positioning on short term rallies could come within 1.0890-1.0900 POC zone (H4,E89,the top of EQ channel) and it should reject the pair towards 1.0840 and 1.0805. ONLY if the pair manages to break 1.0800 we could see a move towards 1.0765 and 1.0715 eventually.
Due to option expiry at 15:00 GMT we expect that volatility will raise.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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