Hello,
I’m quite a new Forex trader and recently bought EUR/USD at about 1.1040. With the price now heading downwards and most of the forecasts for this pair looking bearish, I’m wondering whether I’ve made a newbie blunder.
I’m wondering what more experienced traders views are on the outlook for this pair, both short and medium term. I know there’s an announcement from the ECB on rates (I think) next week, and I’ve also read that any tapering of ECB quantitative easing could help push the Euro back up, so I’d be prepared to wait a few weeks (or even months) if there were reason to believe it could come back up. However I also note this could be a risky strategy, with the potential for mounting losses.
Anyway, I’d be interested to hear people’s thoughts on this currency pair
Doppy