The euro market is from a technical perspective and based on the daily charts in a downtrend. After a sharp counter-movement to well below 50% mark for the last correction phase, consolidated the euro against the U.S. dollar since last week, sideways, and now has a series of internal staffs trained. The corresponding outer bar represents the daily candle from 01.11. represents the range from 1.3871 to 1.3608 USD was not yet overcome the long term. As long as the opening and closing prices remain on a daily basis within that range, it is still around inner rods, which can typically hold tenaciously and are characterized by constantly changing trade directions (doji) and false breakouts from the range of the outer rod. Thus only could signal a closing price outside this range the rest. Impetus for today's trading and increased volatility are possible with the following industry events:
10:30 U.S. economic index sentix November
11:00 EU Retail September
12:00 U.S. manufacturing prod. September trade

07.11.2011 EURUSD - daily