capitalpropertiesfx

EURUSD ahead of German ZEW (short-term)

FX:EURUSD   Euro Fx/U.S. Dollar
185 3 4
Today Euro             is looking a bit better for bulls than yesterday.
We have broken some short-term trendlines to the upside, but this does not mean that the downtrend is over and not by far. The pair is till very much under pressure and I'd say that the break of 1.3665 area would be the first solid sign for bullish outlook. Is the German ZEW (if positive) going to take us there? Unlikely. The key event for this week is FOMC and before that any major break would be highly suprising, if I may say so.
ChrisBaron
2 years ago
1.36 will also be a key level to watch for bearish PA.
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capitalpropertiesfx ChrisBaron
2 years ago
Indeed. 1.36 is a psychological level and probably will act as a resistance at first. If broken, we may push to the 1.3660 pretty fast.
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ChrisBaron capitalpropertiesfx
2 years ago
Its possible. It would also have to break the top side of the bearish channel if it's to get there. Will be interesting to see how things go at 1.36 first. I think it will be heavily lined with sellers.
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