The idea shared is an analysis of EurUsd for a mid term swing.
Fundamentally, The Usd has shown strength owing to the recently released
NFP reports. Next week will usher a series of News releases which hopefully will
further boost investor confidence in the US economy.
Sentimentally, As Europe experiences hard economic sanctions as a result of Russia's
involvement in Ukraine, sanctions placed on one of the biggest economic contributors
in Europe (Russia), Investors tend to move their investments to more stable economies
or what we know as safe haven assets or currencies. For this pair, the Usd is favoured.
Technically, the pair is trading below our trick moving average and in a downward trend,
with the recent demand zone broken (refer to our previous analysis on Eurusd), a supply zone also
created on the 1hr chat time frame. It is expected for price to fill in the supply zone and then continue downwards.
On the Daily charts as seen too, a support structural level has been broken, price may have to retest that level and face
resistance there for a drop in price.
Our sentimental bias hence is to watch and plan for a sell trade on EurUsd.
Let's go take some risk, let's go make some money, Millionaire Logistics.
Fundamentally, The Usd has shown strength owing to the recently released
NFP reports. Next week will usher a series of News releases which hopefully will
further boost investor confidence in the US economy.
Sentimentally, As Europe experiences hard economic sanctions as a result of Russia's
involvement in Ukraine, sanctions placed on one of the biggest economic contributors
in Europe (Russia), Investors tend to move their investments to more stable economies
or what we know as safe haven assets or currencies. For this pair, the Usd is favoured.
Technically, the pair is trading below our trick moving average and in a downward trend,
with the recent demand zone broken (refer to our previous analysis on Eurusd), a supply zone also
created on the 1hr chat time frame. It is expected for price to fill in the supply zone and then continue downwards.
On the Daily charts as seen too, a support structural level has been broken, price may have to retest that level and face
resistance there for a drop in price.
Our sentimental bias hence is to watch and plan for a sell trade on EurUsd.
Let's go take some risk, let's go make some money, Millionaire Logistics.
