EUR/USD: Reaching possible sell zone
Part 1/1
Hi traders, here comes an update on the EURUSD pair. If you have any questions or suggestions, let's start a discussion on the trade in the comment section below.
We're only taking a trade once all rules of our trading strategy are satisfied!
1. Technicals: Neutral/Bearish - The EURUSD pair is still in a downtrend unless we see a decisive break above 1.10, which would indicate a fresh higher high on the daily. The 1.10 level is a strong resistance for now and could provide a short-term sell opportunity. The level also aligns with the 38.2% Fib, and the short-term RSI is showing a hidden bearish divergence.
2. Positioning: EUR neutral (4/10), USD bullish (8/10). Falling open interest in EUR.
3. Economic Surprises Index: EUR bearish (2/10), USD neutral (4/10).
4. Correlations: Neutral
5. Int.rate differentials: Neutral
6. Headlines narrative: EUR bullish - EU bailout fund, USD bearish - slight risk-on sentiment and Covid-19 vaccine
7. Today's risk sentiment: Mixed ahead of US open - VIX up, DAX and ASX down, FTSE up.
Like our analysis? Please hit the "LIKE" button and share. Thanks!
Hi traders, here comes an update on the EURUSD pair. If you have any questions or suggestions, let's start a discussion on the trade in the comment section below.
We're only taking a trade once all rules of our trading strategy are satisfied!
1. Technicals: Neutral/Bearish - The EURUSD pair is still in a downtrend unless we see a decisive break above 1.10, which would indicate a fresh higher high on the daily. The 1.10 level is a strong resistance for now and could provide a short-term sell opportunity. The level also aligns with the 38.2% Fib, and the short-term RSI is showing a hidden bearish divergence.
2. Positioning: EUR neutral (4/10), USD bullish (8/10). Falling open interest in EUR.
3. Economic Surprises Index: EUR bearish (2/10), USD neutral (4/10).
4. Correlations: Neutral
5. Int.rate differentials: Neutral
6. Headlines narrative: EUR bullish - EU bailout fund, USD bearish - slight risk-on sentiment and Covid-19 vaccine
7. Today's risk sentiment: Mixed ahead of US open - VIX up, DAX and ASX down, FTSE up.
Like our analysis? Please hit the "LIKE" button and share. Thanks!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.