Fundamental Backdrop
1. EURUSD has been bullish
2. Tonight's final GDP q/q for the US could give us an insight on the US economy
3. Market has been pricing in a bullish economy for the US which could potentially lead to short term downside potential in EURUSD
Technical Confluences
1. Price is nearing the resistance level at 1.0881 and could see rejection off this area
2. Any short positions or ideas would be an intraday perspective, especially given the uncertainty in the market currently.
Idea
With a medium bearish bias for the EURUSD today, price could potentially tap into the H4 support at 1.0755.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. EURUSD has been bullish
2. Tonight's final GDP q/q for the US could give us an insight on the US economy
3. Market has been pricing in a bullish economy for the US which could potentially lead to short term downside potential in EURUSD
Technical Confluences
1. Price is nearing the resistance level at 1.0881 and could see rejection off this area
2. Any short positions or ideas would be an intraday perspective, especially given the uncertainty in the market currently.
Idea
With a medium bearish bias for the EURUSD today, price could potentially tap into the H4 support at 1.0755.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.