EUR/USD weekly overview
On last Friday currency rate made a fake broke of key level 1.1832 after that price moved down so powerfully. The was few reasons why it happened. If you Take a look on weekly chart you can see that trend still bearish. I wrote many times that in most cases price continue trend after short Pull Beak.
Also, ECB announced their monetary policy. Plus FRS raise the interest rate. If be honest I don't use news in my trading strategy. (Mostly in 95% situation). I pay attention to Fundamental analysis ONLY if there is news like was on the previous week.
We have Fundamental reason + technical reason why the price can continue to move down.
If there will be a pullback to sell level 1.1718 I will open sell.
S/L: 1.1768
1.T/P: 1.1520
2.T/P 1.1325
weekly chart:
On last Friday currency rate made a fake broke of key level 1.1832 after that price moved down so powerfully. The was few reasons why it happened. If you Take a look on weekly chart you can see that trend still bearish. I wrote many times that in most cases price continue trend after short Pull Beak.
Also, ECB announced their monetary policy. Plus FRS raise the interest rate. If be honest I don't use news in my trading strategy. (Mostly in 95% situation). I pay attention to Fundamental analysis ONLY if there is news like was on the previous week.
We have Fundamental reason + technical reason why the price can continue to move down.
If there will be a pullback to sell level 1.1718 I will open sell.
S/L: 1.1768
1.T/P: 1.1520
2.T/P 1.1325
weekly chart:
Comment:
As I wrote yesterday it is better to wait for 1.1700 - 1.1720 Sell zone. There will be a small predictable risk and reword in 6 - 10 times bigger.
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