EURUSD: Remain under pressure.

FX:EURUSD   Euro / U.S. Dollar
Dear all traders.

Sforex comes back after 6 months of absence on TradingView; I need time to develop my own website and my own trading system;now I will post my signals and analysis frequently.

Before going to detail of E/U analysis. I want to introduce my own website:


Please visit our website for more detail. I make sure you will make profit if you follow our signals, service, and analysis.

- Now I begin the return by consider EURUSD             .

+ Next 48h, the main focus will be US GDP (P).

US data last two months indeed was very negative; hence, many forecasters think that US GDP could downgrade in Q1.
FED assume that recent lost momentum of US economy was just a transition, and the advance would return on Q2, and they still leave the rate hike decision on the table.

At least we see FED is the only central bank who wants to tight monetary policy .

The previous data is: 0.2%, Consensus: -0.8%

In my opinion, the Consensus which forecasters and economists release is too cautious. My forecast is 0.1% or in line the previous data 0.2%

I still put my faith on DOLLAR BULL.

-Technical Analysis.

E/U is now below SMA50 + SMA100

Strong resistance level is at 1.1060 I draw on the chart.

If you want to engage a trade right now: You should place stop loss above 1.1060 to protect your position.

In my opinion,I will enter a SHORT Limit order at 1.1060, stop loss at 1.1200, take profit at 1.0500

In the long term, USDOLLAR             is still a good choice to BUY, there is still more room for the appreciation of greenback.


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- -TrackingForexSignals.com--

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