This is an outlook for the weekly. With US interest rate decision coming in 2 weeks price is highly likely to react to the market prior to this event. 18/04/2019 the news had good data for the US market which provided volume for the trend, this could also indicate a rate hike for the US economy. With Europe disappointment with the ECB speech following bad data on 18/04/2019 this may indicate a short term downtrend for euro as a whole. Also with the US & China trade relations seems to have improved, US dollar seems to be recovering from the losses. In my opinion I am a short bias on Euro, with the UK referendum still in play, the challenges Europe face is their economy and trade relations with the rest of the globe. Investors are sceptical about the Euro even though the cheap encourages FDI.
On a technical perspective you can see the weekly has room to continue the trend. A retracement upwards is expected however. Coming towards the end of the year I will be looking at movements towards the 1.07 region.
This is not investment advice.
On a technical perspective you can see the weekly has room to continue the trend. A retracement upwards is expected however. Coming towards the end of the year I will be looking at movements towards the 1.07 region.
This is not investment advice.
Comment:
Great way to end the year off for EUR.USD !!!