Sforex
Short

EURUSD NEXT WEEK: ECB IN THE FOCUS

FX:EURUSD   Euro Fx/U.S. Dollar
384 0 2
- Fundamental Analysis:
EURO             NEXT WEEK: ECB MUST DO SOMETHING TO FIGHT AGAINST DEFLATION.

I think ECB have no much time to wait anymore. Eurozone is indeed facing serious problems. Inflation doesn't pickup last month, IFO and ZEW report showed very negative data, and Industrial Production was very bad. Therefore, The ECB Meeting on Thursday is a good chance for ECB do something to promote EZ economy. I think there will be a big surprise in this meeting; no matter what ECB do, the result would be negative for Euro             . Clearly, the trade of week is SHORT EURUSD             and LONG USDCHF             . It's very difficult for EURUSD             to rally unless US Data is very bad, but I think the possibility of this case is small.

ECB still have one option on the table: Nuclear Weapon: Quantitative Easing , so they will press the button to trigger nuclear weapon ?????.

- Technical Analysis:

Look at on the chart, last week, we saw EURUSD             pierced the two key supports at 1.2600 and 1.2500, this is frst bearish signal.

The price rejected the trendline I show on the chart 3 times: Second bearish signals.

I see a standard and clear Head and Shoulder Pattern on the chart, and price went through the neckline of the pattern. Third bearish signals.

All TA shows bearish for EURUSD             .

Combine FA +TA, I see there is a high possibility to SHORT EURUSD             next week. I aim to 1.2300 level.

I reccommend a trade : SHORT EURUSD             to 1.2300 , stop loss at 1.2600

https://twitter.com/SforexSolution
https://www.facebook.com/sforexsingals

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out