hereunder is your video-analysis of the Euro FX currency futures for today November 22nd:
Euro price kept climbing higher and it is now trading in extensions on the 4-hour chart. Price, however, is currently bouncing off the 1.2900 area of resistance I have indicated on the charts.
We can still expect 2 scenarios that I am going to comment to my free newsletter subscribers today in the Mid-week update:
1) price keeps moving higher in extensions and reaches next target at 1.2930 before retracing. This scenario is negated if price moves below the 1.2838 level.
2) price corrects into the next level of support, one of the following 1.2820, 1.2790 or 1.2700-30.
We could witness a swift move lower tomorrow when few people will be watching the markets, due to US holidays. Such a move would allow big money participants to get their fills at better prices in the coming week before the next leg higher would be unleashed in the Euro. But this may not happen if scenario 1 holds.
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