Good evening Fx traders, wishing you all a profitable week as always. Please find above my trading forecast/idea :
Planning to enter a short position on EUR/USD visible in the 4h timeframe.
Fundamental reasons : EUR : The Euro is still bearish overall especially due to the slow vaccine rollout and recent news about new lockdowns measures. Retail sales still on negative.
USD : The Us Dollar is bullish overall, Retail sales jumped 9.8% mom in March of 2021 and the vaccine rollout is faster than the eurozone which suggests a stronger/quicker economic recovery, hence a stronger USD.
Technical Reasons. : Price has reached a monthly resistance from which we can except to break the 4h trend line and head down.
Thanks again and good luck.
**This is just my forecast based on my own interpretation/analysis, you are not obliged in any way to follow it.
Follow me for more ideas and forecasts.
S.C
Planning to enter a short position on EUR/USD visible in the 4h timeframe.
Fundamental reasons : EUR : The Euro is still bearish overall especially due to the slow vaccine rollout and recent news about new lockdowns measures. Retail sales still on negative.
USD : The Us Dollar is bullish overall, Retail sales jumped 9.8% mom in March of 2021 and the vaccine rollout is faster than the eurozone which suggests a stronger/quicker economic recovery, hence a stronger USD.
Technical Reasons. : Price has reached a monthly resistance from which we can except to break the 4h trend line and head down.
Thanks again and good luck.
**This is just my forecast based on my own interpretation/analysis, you are not obliged in any way to follow it.
Follow me for more ideas and forecasts.
S.C