EURUSD SHORT (London Open)
EURUSD SELL
Take Profit 1 - 1.1031
Take Profit 2 - 1.0981
Take Profit 3 - 1.0931
Stop loss - 1.1211
Here is my analysis of EURUSD:
The EURUSD pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 1.1111, and a sell entry point of 1.1111 is just above the recent low of 1.1091.
There are a few reasons why EURUSD could continue to fall in the near term. First, the EUR is generally seen as a safe haven currency, and it has been weakening against the USD in recent weeks as concerns about the Eurozone economy have grown. Second, the European Central Bank is expected to raise interest rates more slowly than the US Federal Reserve, which could weaken the EUR against the USD. Finally, the USD has been supported by the recent rise in risk appetite.
However, there are also some risks to consider before entering a trade on EURUSD. The forex market is volatile, and there is always the risk of a reversal. Additionally, the economic outlook for the Eurozone and the US is uncertain, which could impact the price of EURUSD.
Overall, I think EURUSD is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal.
Here are some additional factors that you may want to consider before entering a trade on EURUSD:
The economic outlook for the Eurozone and the US.
The level of volatility in the forex market.
The price of risk assets, such as stocks and commodities.
Take Profit 1 - 1.1031
Take Profit 2 - 1.0981
Take Profit 3 - 1.0931
Stop loss - 1.1211
Here is my analysis of EURUSD:
The EURUSD pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 1.1111, and a sell entry point of 1.1111 is just above the recent low of 1.1091.
There are a few reasons why EURUSD could continue to fall in the near term. First, the EUR is generally seen as a safe haven currency, and it has been weakening against the USD in recent weeks as concerns about the Eurozone economy have grown. Second, the European Central Bank is expected to raise interest rates more slowly than the US Federal Reserve, which could weaken the EUR against the USD. Finally, the USD has been supported by the recent rise in risk appetite.
However, there are also some risks to consider before entering a trade on EURUSD. The forex market is volatile, and there is always the risk of a reversal. Additionally, the economic outlook for the Eurozone and the US is uncertain, which could impact the price of EURUSD.
Overall, I think EURUSD is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal.
Here are some additional factors that you may want to consider before entering a trade on EURUSD:
The economic outlook for the Eurozone and the US.
The level of volatility in the forex market.
The price of risk assets, such as stocks and commodities.
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