Hope all of you have had a great week trading so far. I haven't looked at this pair in a while but on the chart I have painted a picture of both bullish and bearish scenario's. Now with the current fundamentals coming tomorrow with EUR and USD, expect some volatility and mostly a bullish price in short term. The reason I say this is because EUR bulls are still there ready and waiting/wanting good news, and any sign it is good news will send this pair to the upside.
I have mixed views on this pair because both currencies have weakening properties at the moment, with them both weakening at a similar rate we haven't seen to much volatility. If we see Trump tweet a few more times or add more tarrifs we may see more volatility and a clearer picture to where we see the overall trend.
For the moment, I am staying away from this pair as it feels like if I was to place a trade it would be of a gamble than anything else. Although my emotions are telling me to Buy, I have a strict set of rules to insure I tick every box before I enter a trade and this hasn't ticked them all.
Check out our other analysis for more honest, truthful and educational charts.
Happy trading!
I have mixed views on this pair because both currencies have weakening properties at the moment, with them both weakening at a similar rate we haven't seen to much volatility. If we see Trump tweet a few more times or add more tarrifs we may see more volatility and a clearer picture to where we see the overall trend.
For the moment, I am staying away from this pair as it feels like if I was to place a trade it would be of a gamble than anything else. Although my emotions are telling me to Buy, I have a strict set of rules to insure I tick every box before I enter a trade and this hasn't ticked them all.
Check out our other analysis for more honest, truthful and educational charts.
Happy trading!