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MARKET OUTLOOK
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EURO - Bearish
1️⃣ The ECB agreed on Thursday to maintain an elevated pace of bond purchases while upwardly revised projections for the bloc's economic growth and inflation for 2021 and 2022.
2️⃣ ECB governing council member Gabriel Makhlouf said on Wednesday that it's too early to discuss the end of the European Central Bank's Pandemic Emergency Purchase Programme (PEPP).
USD - Bullish
1️⃣ The Fed sharply raised its forecasts for inflation this year and brought forward the time frame on when it will hike interest rates.
2️⃣ Annual inflation rate in the US accelerated to 5% in May of 2021 from 4.2% in April and above market forecasts of 4.7%. It is the highest reading since August of 2008.
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TECHNICAL
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- We're shorting this pair on SBR level + SMA50 area + Pivot point level on H1 chart.
- EURUSD still in downtrend zone.
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RISK TO THIS TRADE
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- Any positive comments from ECB President Lagarde will make this trade hit stop loss.
MARKET OUTLOOK
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EURO - Bearish
1️⃣ The ECB agreed on Thursday to maintain an elevated pace of bond purchases while upwardly revised projections for the bloc's economic growth and inflation for 2021 and 2022.
2️⃣ ECB governing council member Gabriel Makhlouf said on Wednesday that it's too early to discuss the end of the European Central Bank's Pandemic Emergency Purchase Programme (PEPP).
USD - Bullish
1️⃣ The Fed sharply raised its forecasts for inflation this year and brought forward the time frame on when it will hike interest rates.
2️⃣ Annual inflation rate in the US accelerated to 5% in May of 2021 from 4.2% in April and above market forecasts of 4.7%. It is the highest reading since August of 2008.
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TECHNICAL
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- We're shorting this pair on SBR level + SMA50 area + Pivot point level on H1 chart.
- EURUSD still in downtrend zone.
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RISK TO THIS TRADE
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- Any positive comments from ECB President Lagarde will make this trade hit stop loss.
Trade active