Euro sentiment metrics

Russell Sandiford Reiwa-Capital.com

The Brexit momentum is drawing towards a resolution, but Boris Johnson still has the UK Lawmakers hurdle to jump.

No doubt, GBPJPY will see a lot of the Brexit flow in the coming 48 hours, but EURUSD can benefit (higher) also.

I have been a keen observer off the growing Euro strength and the technical are lining up also. A significant base above the 1.11 handle opens the door for the EUR/USD to be bid higher.

The ECB is up next week with the latest rate decision and forward guidance, so don’t be surprised if EUR/USD positions itself to 1.1200.

FX Intra-day trade

The Euro has crawled higher steadily in recent times and with Brexit optimism growing, I am taking a deeper look into EUR/USD sentiment.

USD drifting as the trade sentiment takes a backseat to the Brexit whirlwind. Hence the Euro can keep this upward momentum going.

From this level around 1.1130, I am a BUYER of EURUSD:

Here are the levels to watch.

BUY

EURUSD

Entry: 1.1125

Target: 1.1200 (+75 Pips)

Stop: 1.1050 (-75 Pips)

Author

Russell Sandiford

Reiwa-Capital.com

Russell Sandiford is one of the most reputable market analysts in Australia with over 16 years’ experience in the global FX, indices and commodities markets.

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