Experienced traders know that contradictions flourish while pursuing their wagers in Forex and the $EURUSD may be about to deliver a rather intriguing mix of results this coming week.
With the EUR/USD firmly establishing a price above parity in the past two weeks of trading, speculators may be beginning to feel comfortable with the notion that sunnier days are ahead for the Forex pair. However, traders may want to acknowledge shadows linger.
There will be a parade of data from Europe and the U.S this Wednesday, which will give insights regarding outlook in the manufacturing and services sectors. Also, the U.S will celebrate Thanksgiving on Thursday which means trading volumes will begin to diminish on Wednesday and evaporate later this week.
However, this small value difference will likely see outliers emerge and because trading volumes will become thin later this week, speculators should expect the potential of sudden spikes to be displayed, particularly on Tuesday and Wednesday as U.S financial houses place their positions before leaving for the long holiday weekend.
-taking should be combined with solid stop losses and take profit orders which are not overly ambitious this coming week. Quick hitting trades are advised for speculators.The EUR/USD did sustain its value rather well this past week and support has certainly looked firm near the 1.03000 vicinity.
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