US Dollar Weakness Continues

Exclusive EUR/USD Analysis 14.11.2016

EUR/USD Weakness Should Continue

USD strength after Trump’s win on election, continues to dominate the market. US Dollar Index is rising, EUR/USD is falling as hopes for the Donald Trump’s promise that he will ditch current policy in favor of a high-spend, low-tax regime are going strong.

The EUR/USD finally hit 1.0800 flat and below and is currently targeting 1.0749 and 1.0596 if we see a 4h close below 1.0700. The pair is riding the descending trend line, and that is the indication of a strong trend. In case of retracement for a new short entry, pay attention to 1.0870-85 (previous breakout point, bearish order block) and 1.0985-1.1100 on a deeper retracement (H3, WPP, EMA89, X cross ™. Targets for short trades in case of retracement are 1.0800, 1.0722 and 1.0596.

EUR/USD Chart
EUR/USD Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

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Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.