Originally Updated: 06:55
Currency Pair: EUR/USD
Sentiment: Short term bearish
Market focus:
In today’s trade set up we will be focussing on short term selling opportunities on the EUR/USD.
Fundamentals:
The euro plunged yesterday after Reuters reported the ECB is thinking of purchasing corporate bonds as soon as next year. However a spokesman for the central bank quickly played this down.
With the economy still looking grim as the eurozone battles to stave off the threat of deflation one wonders when the ECB will bring in QE.
Technicals:
We have a nice confluence zone at 1.2790-1.2800. This should offer short term resistance for any pullback.
Stop loss could be placed at 1.2860
First take profit target: 1.2735
Second take profit target: 1.2690
Trade management: After target 1 hit stop loss could be moved to breakeven
Currency Pair: EUR/USD
Sentiment: Short term bearish
Market focus:
In today’s trade set up we will be focussing on short term selling opportunities on the EUR/USD.
Fundamentals:
The euro plunged yesterday after Reuters reported the ECB is thinking of purchasing corporate bonds as soon as next year. However a spokesman for the central bank quickly played this down.
With the economy still looking grim as the eurozone battles to stave off the threat of deflation one wonders when the ECB will bring in QE.
Technicals:
We have a nice confluence zone at 1.2790-1.2800. This should offer short term resistance for any pullback.
Stop loss could be placed at 1.2860
First take profit target: 1.2735
Second take profit target: 1.2690
Trade management: After target 1 hit stop loss could be moved to breakeven
At no time should anyone view the information presented anywhere on this website as advice, recommendation or proven. Everything reflected is merely opinion and may not be accurate. The purpose of the site is to express the opinions and views of Jarratt Davis. There is no intention to offer specific help, advice or suggestions to anyone reading any of the content posted here.
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