Has the Euro Put in a Short-term Base? - Forex News by FX Leaders

Has the Euro Put in a Short-term Base?

Posted Tuesday, October 24, 2017 by
Rowan Crosby • 1 min read

If you’ve been following my updates recently, then you would know that I’ve been pretty bearish on the EUR/USD. I think it is only a matter of time before the bottom falls out of this one and we break through 1.1700.

In Asian trade today it does look like we are grinding a little higher and have based a touch on the 240-min chart. That said I will be targeting the 1.1775 level as my area of interest. If we get bearish price action then I think that might be the best place to look for a short as we roll on into the European open.

With the ECB interest rate decision due out later this week, we might be biding our time here, however, there isn’t all that much that is being predicted to come out of it.

 

EUR

EUR/USD – 240 min Chart.
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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.
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