Buyers still trying to dominate trading EUR / USD up towards the close of the weekend, but the sellers respond not far from 1.1041 after the release of US data some fairly positive (Retail Sales, PPI and Consumer Sentiment). As a result, the price is still trapped in the range 1.1041 Inside Bar - 1.0878 which also reflects the market vigilance to anticipate the FOMC statement next week.
Reaction sellers and the failure of the breakout of the Inside Bar (above 1.1041) might also represent market expectations about the possibility of the Federal Reserve to raise interest rates this month (December 2015) in the minutes of the FOMC which will be released next week (Thursday, December 17 at 02.00 am in the morning) ,
Technically, some analysis from renowned institutions interesting to note, for example, Nomura analysts who say that the EUR / USD needs a down-move that represents a wave-B that can target the 1.0807 to 1.1041 will act as key-resistance.
JP Morgan analyst is a bit more detail, saying that a break above 1.1087 will be able to change the map of Elliot Wave (short / mid-term), but the pullback from 1.1041 will be a bearish risk that could reach 1.0642. While analysts at Barclays Capital said that this time they are still stand-aside to wait for price action against the resistance 1.1085 / 1.1120 or to 1.0795 support.
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