Trading Outlook – EUR/USD
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Originally updated: 06:40
Status: Pending
Trading period: SHORT
Currency pair: EUR/USD
Entry: 1.1240-1.1280
Take profit: 1.1129
Stop: 1.1315
Sentiment: Bearish
Market Focus: In today’s trade set up we will be focussing on selling opportunities on the EUR/USD.
Fundamentals: The EUR fell to the lowest level in 11 years against the USD as Greece’s anti-austerity Syriza party won the Greek election setting up potential confrontation with Greece’s European lenders over austerity measures. With the ECB initiating QE last Thursday and the US looking to raise rates this year the EUR/USD still remains a favourite sell.
Technicals: I am looking for selling opportunities with a good confluence zone at 1.1240 -1.1280.
Stop loss could be placed at 1.1315
Target area: 1.1130
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