TradingView
ForexStoreau
Sep 30, 2019 4:42 AM

GAP needs to be filled - 1.0780 - EUR BEARISH Long Term 

Euro Fx/U.S. DollarFXCM

Description

Hello traders,

There is currently a gap in the market which is yet to be filled at 1.0780.
Any short term spike in the market is an opportunity to sell lower.
Germany is in a recession and the EU as a group is not far behind.
The ECB has also cut interest rates into the negative territory, therefore the EUR is bearish long term.

The DXY is due a pull back lower, therefore we could see some upside on the EURUSD before it breaks lower.

Major resistance at 1.1350 - Great entry for short position
Long term we could see the EURUSD down at 1.0600

Please let us know your thoughts on the set up

forexstoreau.com
More