EUR/USD trading near the supply zone 1.1830/40. Any break above this level, the next resistance to watch 1.1880 then 1.1915(monthly high). On the downside, break below 1.1770 will open door to 1.1710 (weekly low) followed by 1.1660.
Bearish I think… !!!
Yes I also expect EURUSD to go lower, hold some shorts on Hotforex and use IB to keep call options on the pair. Mixing CFDs with options can be better approach to trading if you understand what risks you need to diversify.
Well done.
We can immediately see that you have a good understanding of the work by levels!
And this is the basis for competent technical analysis!
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The market has been following a bearish trend overall.
Thank you mate
how do you select those levels? what do you base on?
The EUR/USD seems like it will go lower and you can probably use CFDs. There is a bearish trend and so far the levels look good. Keep up the good work.
I think the price could go up to the 1.1880 resistance area. Then the price downward momentum can start.
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Try using CFDs since the EUR/USD might go lower. The market trend is bearish and that is a really good work on the levels. Happy trading!
Economists at TD Securities prefer a defensive posture in the coming weeks in spite of the fact that the vaccine is a long-term positive as the market may be overestimating the timing and scalability of vaccine distribution. The USD has some room to tactically rally. As far as the USD is concerned, we think a modest 2% rally in the very short-term is reasonable. We are long USD/CAD in looking for a move towards the 1.33/35 zone before fading. We are also short a one-month 1.19/1.21 EURUSD call-spread as a slowing DM world and a spike in COVID-19 are conditions that are not ripe for the common currency to achieve escape velocity. That said, we think 1.16 should be durable support.”
I read the market news today…WHAT’S HAPPENING: Following the ECB’s economic policy decision, the ECB President gives a press conference regarding monetary policy. His comments may influence the volatility of EUR and determine a short-term positive or negative trend. His hawkish view is considered positive or bullish for the EUR, whereas his dovish outlook is negative or bearish.