EURUSD is going to start falling or never. We are now heading to March US debt ceiling and French election One of the Candidate Marine Le Pen launched her presidential campaign, promising to put France first by freeing it it from the “tyrannies” of globalisation, Islamic fundamentalism and the European Union. If French election is favour Le Pen, EURUSD will cascade down. further more, UK will start Brexit in March so Europe is full of uncertain.
Moreover, the Greece debt problem will be due on July this year. Although Greece has suffer along and have achieve Fiscal surplus for 1% of GDP, some IMF offical still insist Greece have to achieve fiscal surplus of 3.5% in 2018 in order to get aid.
Weekly Chart of EURUSD is showing a rebound to previous support line and also 20 week moving average and hit resistance. Stochastic is showing overbought means it is a bit difficult to get further rally. if EURUSD break below 1.05 then it will open up the way to parity.
Moreover, the Greece debt problem will be due on July this year. Although Greece has suffer along and have achieve Fiscal surplus for 1% of GDP, some IMF offical still insist Greece have to achieve fiscal surplus of 3.5% in 2018 in order to get aid.
Weekly Chart of EURUSD is showing a rebound to previous support line and also 20 week moving average and hit resistance. Stochastic is showing overbought means it is a bit difficult to get further rally. if EURUSD break below 1.05 then it will open up the way to parity.
Trade active:
AS suggested the EURUSD have found the resistance and it's still on the way downside, look for a break below 1.05 to have confirm starting a new downtrend