EUR/USD – Week 4 – 1.20 next target?
Euro gained some momentum last week with the price increasing correctively, as ECB kept the interest and deposit rate unchanged. The ECB’s dovish tone in regards with the effects of extended lockdown measures around Europe had a relatively weak impact for the Euro.
Technically speaking, we expect this to be the start of a complex correction that we’ve been expecting in the past couple of weeks with the price potentially dropping below 1.20 levels.
Keep an eye on the USD pairs on Wednesday as the FOMC releases its statement regarding monetary policy accompanied with the FED’s Interest Rate Decision.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically speaking, we expect this to be the start of a complex correction that we’ve been expecting in the past couple of weeks with the price potentially dropping below 1.20 levels.
Keep an eye on the USD pairs on Wednesday as the FOMC releases its statement regarding monetary policy accompanied with the FED’s Interest Rate Decision.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed manually:
Expecting the consolidation to finish before heading towards 1.20
