Trading Outlook – EUR/USD

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Originally updated: 06:20am

Status: In Progress

Trading period: SHORT

Currency pair: EUR/USD


Take profit:

Sentiment: Bearish

Market Focus: In today’s trade set up we will be focussing on selling opportunities on the EUR/USD.

Fundamentals: The euro plummeted to new lows, seeing the weakest levels since 2006, as Mario Draghi hinted last week the ECB will start its QE program. This could in effect happen as soon as 22 January when the ECB meets again. To add fuel to the fire, it was reported that German Chancellor Angela Merkel is ready to accept a Greek exit from the eurozone as Greece’s political situation brings a shadow of uncertainty to the table should Greece’s opposition Syriza party win the elections on 25 January.

Technicals: I expect this pair to continue its down move, however we have seen a large one way move last Friday and this morning already. For this reason I remain on the sideline for now, looking for selling opportunities on any decent rallies.

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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"][/social] [social type="twitter"][/social] [social type="google-plus"][/social] [social type="youtube"][/social]

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