Trading Outlook – EUR/USD
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Originally updated: 06:12am
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 today turns to the EUR/USD after ECB President Mario Draghi said on Friday that the ECB ‘will do what they must’ in order to get the troubled eurozone growing again.
Conversely, 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 1.2415-1.2425. This should offer short term resistance for any pullback.
Stop loss could be placed at 1.2465
Take profit target: Open
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