EURUSD LONG
💰Take Profit 1 - 1.0750
💰Take Profit 2 - 1.0800
💰Take Profit 3 - 1.0850
❌ Stop loss - 1.0570
Technical analysis:
The EURUSD pair is currently in a bullish trend, and it is currently trading near the bottom of its range. The current spot rate is 1.0670, and a buy entry point of 1.0670 is just above the recent low of 1.0570.
The pair is also trading above its 200-day moving average, which is a bullish signal. The pair is also forming an ascending triangle pattern, which is a continuation pattern that typically leads to a breakout to the upside.
Fundamental analysis:
The euro is generally seen as a riskier currency than the US dollar, but it has been strengthening against the US dollar as concerns about the global economy have subsided.
Second, the European Central Bank (ECB) is expected to raise interest rates more quickly than the US Federal Reserve (Fed), which could put upward pressure on the EUR against the USD.
Finally, the European economy is expected to grow more quickly than the US economy in the near term. This is due to a number of factors, including the reopening of the economies after the COVID-19 pandemic.
Risks:
There are a few risks to consider before entering a trade on EURUSD. First, the global economy could worsen, which could weigh on risk appetite and lead to a decline in EURUSD.
Second, the Fed could raise interest rates more quickly than expected, which could also put downward pressure on the EURUSD.
Finally, the Chinese economy could weaken more quickly than expected, which could also put downward pressure on the EURUSD.
💰Take Profit 2 - 1.0800
💰Take Profit 3 - 1.0850
❌ Stop loss - 1.0570
Technical analysis:
The EURUSD pair is currently in a bullish trend, and it is currently trading near the bottom of its range. The current spot rate is 1.0670, and a buy entry point of 1.0670 is just above the recent low of 1.0570.
The pair is also trading above its 200-day moving average, which is a bullish signal. The pair is also forming an ascending triangle pattern, which is a continuation pattern that typically leads to a breakout to the upside.
Fundamental analysis:
The euro is generally seen as a riskier currency than the US dollar, but it has been strengthening against the US dollar as concerns about the global economy have subsided.
Second, the European Central Bank (ECB) is expected to raise interest rates more quickly than the US Federal Reserve (Fed), which could put upward pressure on the EUR against the USD.
Finally, the European economy is expected to grow more quickly than the US economy in the near term. This is due to a number of factors, including the reopening of the economies after the COVID-19 pandemic.
Risks:
There are a few risks to consider before entering a trade on EURUSD. First, the global economy could worsen, which could weigh on risk appetite and lead to a decline in EURUSD.
Second, the Fed could raise interest rates more quickly than expected, which could also put downward pressure on the EURUSD.
Finally, the Chinese economy could weaken more quickly than expected, which could also put downward pressure on the EURUSD.
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