Daily Strategy - 3-weeks downtrend of EURUSD end and may go up t
Daily Strategy - 3-weeks downtrend of EURUSD end and may go up this week.
EURUSD (1.1953)
Trend: Neutral/Upward
Support/Resistance: 1.1825 - 1.2050
The potential of the Dollar gains are on the way to end. The Dollar gained against the Euro for 3-weeks about 550 pips. The downtrend end on Wednesday and turned into neutral. This week the focus is over the inflation in the Euro Zone with report on Wednesday that may send a signal whether ECB will hike the key interest rates soon. For the Euro Zone the most important events comes on Tuesday GDP in Germany and Europe. It is not expecting so positive report that started to generate in EURUSD exchange rate already and may continue few days more.
In United States the Retail Sales may also send negative signal to the Dollar.
According to the above information and follow the technical signals our trading strategy is to keep open long positions for the first part of the week. In the second half of the week we will continue with the long positions or will start with trading in neutral direction with positions with 30-40 pips profit.
EURUSD (1.1953)
Trend: Neutral/Upward
Support/Resistance: 1.1825 - 1.2050
The potential of the Dollar gains are on the way to end. The Dollar gained against the Euro for 3-weeks about 550 pips. The downtrend end on Wednesday and turned into neutral. This week the focus is over the inflation in the Euro Zone with report on Wednesday that may send a signal whether ECB will hike the key interest rates soon. For the Euro Zone the most important events comes on Tuesday GDP in Germany and Europe. It is not expecting so positive report that started to generate in EURUSD exchange rate already and may continue few days more.
In United States the Retail Sales may also send negative signal to the Dollar.
According to the above information and follow the technical signals our trading strategy is to keep open long positions for the first part of the week. In the second half of the week we will continue with the long positions or will start with trading in neutral direction with positions with 30-40 pips profit.
