EURUSD finished the week with slightly bearish tone. The pair had a strong rejection from the North. The weekly candle has come out as a Bearish Pin bar. However, last week’s support has not yet been breached though. If the level gets broken next week, then the pair would go towards the South for some days. Let us now have a look at some high impact news events that might create strong volatility on the pair next week.
Wednesday-8th November 2017- GMT 15.30
- Crude Oil inventories
This news event always has the potential to make the pair very volatile. It often ends up producing huge spikes on the intraday charts as well. Thus, the best thing to do would be to wait for the news impact to get over then look for the trading opportunities.
Thursday-9th November 2017- GMT 13.30
- Unemployment Claims
This would be the biggest news event for the week. The pair would get very volatile and some great opportunities could be found as well once the market gets settled after the news event.
As we see on the next week’s Forex calendar, there are not too many high impact news events. This means the week would favour technical analysis more. In one way it is good, but if the big technical traders do not make the pair move, then it would be tough for the retail traders to find out good entry. Let us now wait and see whether the pair makes some technical moves or not next week.
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