We see a descending triangle as EURUSD continues its downtrend with sellers willing to go lower whilst buyers stay at the same level. If EURUSD rises, we will keep selling as we expect continued downward pressure on the EUR due to the uncertainty surrounding Brexit and the recent poor Eurozone economic data.
Additionally, EURUSD provides positive financing, for example holding a 100 GBP per big figure (ie: 1.12 to 1.11 = 100GBP profit) short position could currently return 70 pence per day or 273.75 GBP per year.
Additionally, EURUSD provides positive financing, for example holding a 100 GBP per big figure (ie: 1.12 to 1.11 = 100GBP profit) short position could currently return 70 pence per day or 273.75 GBP per year.