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Trading Outlook – EUR/USD

Jarratt Davis
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Originally updated: 06:40

Status: Pending

Trading period: SHORT

Currency pair: EUR/USD

Entry: 1.1240-1.1280

Take profit: 1.1129

Stop: 1.1315

Sentiment: Bearish

Market Focus: In today’s trade set up we will be focussing on selling opportunities on the EUR/USD.

Fundamentals: The EUR fell to the lowest level in 11 years against the USD as Greece’s anti-austerity Syriza party won the Greek election setting up potential confrontation with Greece’s European lenders over austerity measures. With the ECB initiating QE last Thursday and the US looking to raise rates this year the EURUSD still remains a favourite sell.

Technicals: I am looking for selling opportunities with a good confluence zone at 1.1240 -1.1280.

Stop loss could be placed at 1.1315

Target area: 1.1130

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