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Trading Outlook – EUR/USD

Posted On 18 Nov 2014
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Originally updated: 06:20am

Currency Pair: EUR/USD

Sentiment: Bearish

Market focus:

In today’s trade set up we will be focussing on short term selling opportunities on the EUR/USD.

Fundamentals:

Our focus turns us back to the troubling eurozone today, this after ECB President Mario Draghi said yesterday that the central bank was ready to act, citing government-bond buying as an option if the economy deteriorates further. In the US, the Fed having a more hawkish outlook over the US economy, is on track to raise rates as early as next year giving us a good trading opportunity on the EUR/USD.

Technicals:

We have a nice confluence zone at 1.2495-1.2500. This should offer short term resistance for any pullback.

Stop loss could be placed at 1.2550

Take profit target: 1.2455

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Source:: Trading Outlook – EUR/USD

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Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"]www.facebook.com/JarrattDavisForex/[/social] [social type="twitter"]https://twitter.com/jarrattdavis[/social] [social type="google-plus"]https://plus.google.com/+JarrattdavisForexTrader/[/social] [social type="youtube"]https://www.youtube.com/user/JarrattDavisForex[/social]

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