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EUR/USD multi-week bottom nearing?

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Near term eur/$ outlook: As been discussing since the Nov 9th email, there is still no confirmation of a bottom (arguing further downside), but expect the downside momentum to start slowing. This has indeed occurred and along with a number of other bullish signs, suggests that a bottom for at least a few weeks is approaching. In addition to the slowing downside momentum, the market is oversold after the sharp decline from Oct, is seen within the final downleg in the fall from the Oct 15th high

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