EURUSD SHORT

19 thg 10, 2023

📉 EURUSD SELL 📉
💰Take Profit 1 - 1.0494
❌ Stop loss - 1.0674

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 1.0574, and a sell entry point of 1.0574 is just above the recent low of 1.0554.

There are a few reasons why EURUSD could continue to fall in the near term. First, the euro is generally seen as a riskier currency than the US dollar, and it has been weakening against the USD as concerns about the global economy have grown. Second, the European Central Bank (ECB) is expected to raise interest rates more slowly than the Federal Reserve, which could put downward pressure on the EUR against the USD. Finally, the European economy is expected to grow more slowly than the US economy in the near term. This is due to a number of factors, including the war in Ukraine and the ongoing trade tensions with China.

Technical analysis:

From a technical perspective, the EURUSD pair is trading below its 200-day moving average, which is a bearish signal. The pair is also forming a bearish descending triangle pattern, which is a continuation pattern that typically leads to a breakout to the downside.

Fundamental analysis:

The European economy is expected to grow more slowly than the US economy in the near term. This is due to a number of factors, including the war in Ukraine and the ongoing trade tensions with China. However, the ECB is expected to raise interest rates more slowly than the Fed, which could put downward pressure on the EUR against the USD.

Risks:

There are a few risks to consider before entering a trade on EURUSD. First, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a rise in the EURUSD pair. Second, the Federal Reserve is expected to raise interest rates more quickly than the ECB, which could put upward pressure on the USD against the EUR. Finally, the US economy is expected to grow more quickly than the European economy in the near term. This could lead to a weaker EUR and a stronger USD.

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. You should always do your own research before entering any trades.

Here are some additional factors that you may want to consider before entering a trade on EURUSD:

The economic outlook for Europe and the US.
The level of volatility in the forex market.
The price of commodities, such as oil and other manufactured goods.