SHORTING EU!
Brief Technical Analysis:
- Bearish Flag forming on the H8/Daily TF
- Nice impulse to the downside breaking past 1.13000
- Retest of the round psychological number 1.13000
- 61.8 Fib level lines up with previous stated confluences
- 3rd touch of trendline on H1 timeframe
Brief Fundamental Analysis on the currency pair:
- ECB aren't looking to change monetary policy anytime soon
- Energy crisis in Europe growing concern
- Concerns over new Covid strain 'Omicron'
- The FED are looking to increase their tapering pace, raise interest rates as soon as early 2022
- US Dollar seen as a safe 'haven' for investors (risk-off market = bullish for the Dollar and bearish for the Euro)
Brief Technical Analysis:
- Bearish Flag forming on the H8/Daily TF
- Nice impulse to the downside breaking past 1.13000
- Retest of the round psychological number 1.13000
- 61.8 Fib level lines up with previous stated confluences
- 3rd touch of trendline on H1 timeframe
Brief Fundamental Analysis on the currency pair:
- ECB aren't looking to change monetary policy anytime soon
- Energy crisis in Europe growing concern
- Concerns over new Covid strain 'Omicron'
- The FED are looking to increase their tapering pace, raise interest rates as soon as early 2022
- US Dollar seen as a safe 'haven' for investors (risk-off market = bullish for the Dollar and bearish for the Euro)