As the USD builds momentum, and XXXUSD UDDXXX crosses come under pressure, I'm especially interested in EUR that was slammed across the board last week.
We smashed down through the 109 level so I'm expecting a retracement to that level and then a push lower. to around the 1.075 level. This is a 1:6 Trade, good odds for me.
For me recent EUR strength has been down to a) USD weakness b) Hawkish speak from the ECB but for me the US economy is performing better, they're already at higher interest rates, the FED looks like they'll not cut this year now, and the dollar is due a bounce.
If I'm right, a big side effect is EURUSD drop, which is why I'm short on this pair!
We smashed down through the 109 level so I'm expecting a retracement to that level and then a push lower. to around the 1.075 level. This is a 1:6 Trade, good odds for me.
For me recent EUR strength has been down to a) USD weakness b) Hawkish speak from the ECB but for me the US economy is performing better, they're already at higher interest rates, the FED looks like they'll not cut this year now, and the dollar is due a bounce.
If I'm right, a big side effect is EURUSD drop, which is why I'm short on this pair!
Trade closed: target reached:
Perfect trade, bounce off 1.075, looking to re-enter once we have completed the bounce and got the confirmation probably around 1.083 but lets see what happens with Fed news etc.