Here's the Trading Plan for the Euro Today - Forex News by FX Leaders

Here’s the Trading Plan for the Euro Today

Posted Tuesday, October 10, 2017 by
Rowan Crosby • 1 min read

I’m very bearish on the Euro and ever since the Fed has started looking at rate hikes happening sooner rather than later, I have felt that the EUR/USD is set to head downward.

This week we have a bit of a potential curve ball, with the FOMC minutes due for release, in the coming days. That might impact the USD in the short term if something comes out that the market didn’t anticipate. Or at the same time, it might confirm the downtrend.

For that reason, I will still be looking for short opportunities in the EUR/USD, but for those with a longer-term timeframe in mind, it might be best to work an entry that is a little higher if we do see a jump. I like 1.1775 as a starting point, because if we pullback above 1.1800 then the chart starts to look a lot more neutral.

 

EUR

EUR/USD – 240 min Chart.
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

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.
Related Articles
I’m very bearish on the Euro and ever since the Fed has started looking at rate hikes happening sooner rather than later, I have felt tha
2 years ago
Thanks mostly to a less than impressive U.S, jobs report, the EUR/USD managed to avoid falling off the cliff at 1.1700. It bounced as the U
2 years ago
Comments

Leave a Reply

avatar
  Subscribe  
Notify of