Trading outlook – EUR/USD

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Originally updated: 07.04am

Current Price: 1.2314

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:

Following on from the FOMC minutes last night we are looking for buying opportunities in the USD today after Fed Chair Yellen came across more hawkish giving investors a better idea of when rates may rise saying ‘ at the next couple of meetings’. That could be as early as April 2015.

Technicals:

I expect this pair to continue its down move during the session, eventually hitting 1.2280 or lower. If the market does retrace back up then there are two nice confluence zones of resistance that traders could use as a reference to sell from again.

The first confluence zone is at 1.2390 and the second zone is up at 1.2480

First stop loss could be placed at 1.2430

Second stop loss could be placed at 1.2530

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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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