EUR/USD is currently in decline and with the recent U.S data showing growth for the economy it's sent the currency pair further into a downward trend. Looking closely at the daily charts and historical data we see a good bit of retracement with the pair, so it's my belief that we'll soon see a shift from bearish to short-term bullish up to the 1.119 to 1.12 price range and we might just see movement over that mark into the 1.124 range before seeing the market reverse and continue on with it's overall bearish trend dropping into new yearly lows and moving us out of the daily chart and into the weekly chart.
Disclaimer.
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment.
Disclaimer.
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment.
Comment:
Take profit accomplished @ 1.122. Waiting to see if market will push higher for future short opportunities.