Keeping Short EURUSD Fundamental-Techno Trading Update!!
Fundamentals:
(1) Economists have forecasted the eurozone's economic growth to moderate; and, so far the data has been moving in that direction, as the data has fell below market consensus.
(2) The ECB is dovish. Thus, the ECD is allowing market forces to pin yields low; however, it also has circuit-breaking inflation that they continue to ignore at the moment. This dampens yields, and in turn dampens their currency.
Technicals:
MACD negative
Clear downtrend
Resistance hit
(1) Economists have forecasted the eurozone's economic growth to moderate; and, so far the data has been moving in that direction, as the data has fell below market consensus.
(2) The ECB is dovish. Thus, the ECD is allowing market forces to pin yields low; however, it also has circuit-breaking inflation that they continue to ignore at the moment. This dampens yields, and in turn dampens their currency.
Technicals:
MACD negative
Clear downtrend
Resistance hit
Trade active
Note
Note
Trade closed: target reached
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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.
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.