The Euro Bulls Better Show Up And Soon

The euro has been having a hard time catching a bid recently. Yet the pace of its decline has slowed day-by-day. The say that when everyone piles up in one direction, the market tends to surprise in the other. Does it mean that the bears are to face stiff headwinds soon?

While EUR/USD moved lower once again earlier today, the combination of the green support zone based on mid-Oct lows and the 61.8% Fibonacci retracement continues to keep declines in check. That's still true at the moment of writing these words, as the pair keeps above 1.0990.

It means that our yesterday's observations are up to date also today:

(...) Let's examine the daily indicators. While they're in their oversold areas, the Stochastic Oscillator is on the verge of flashing its buy signal.

Connecting the dots, there is a high probability of a reversal being just around the corner.

We hope you enjoyed reading the above free analysis, and we encourage you to read today's Forex Trading Alert - this analysis' full version. There, we discuss also the current situation in GBP/USD and USD/CHF. The full Alert includes more details about our current positions and levels to watch before deciding to open any new ones. There's no risk in subscribing right away, because there's a 30-day money back guarantee for all our products, so we encourage you tosubscribe today.

Thank you.

Nadia Simmons
Forex & Oil Trading Strategist

Sunshine Profits - Effective Investments through Diligence and Care

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All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits' associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski's, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.