The EUR/USD likes 1.1850: Level to Sell
1.1850 is a level that keeps on holding in the EURUSD.
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Last updated: Wednesday, December 20, 2017
The Euro has been trying it’s best to spike higher, despite an overall downtrend. I felt that selling at both the 1.1800 and 1.1850 levels provided good value and I’m still of that belief in the longer-term.
Yesterday we saw the USD fall away along with equities. That provided a bit of strength to the EUR/USD in the same fashion as we got last week, on a dovish FOMC outlook.
To me, it’s still the same levers that are being pulled. It’s a weak USD that has been pushing us around. If in fact, we gain some strength, in the form of tax reform being passed, then I think we will tumble back down to earth.
I’m still prepared to be a seller at 1.1850 for the time being.
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ABOUT THE AUTHOR
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Rowan Crosby
Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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