Hi traders,
We have seen the EUR being offered for two weeks and clearly a bearish trend. Well done to traders who took advantage of this opportunity. This may be to a mixture of reasons, one big one is that there is risks around the division within the euro-zone.
As with all trends we expect pullbacks, a pullback in the EUR requires some fundamental driver. All dead cats eventually bounce. Else, it is sells only.
A good level to look for the bounce would be the 108000 area too the 109000. A potential range can form in the region which is something to be mindful of.
All the best,
Aardall
We have seen the EUR being offered for two weeks and clearly a bearish trend. Well done to traders who took advantage of this opportunity. This may be to a mixture of reasons, one big one is that there is risks around the division within the euro-zone.
As with all trends we expect pullbacks, a pullback in the EUR requires some fundamental driver. All dead cats eventually bounce. Else, it is sells only.
A good level to look for the bounce would be the 108000 area too the 109000. A potential range can form in the region which is something to be mindful of.
All the best,
Aardall