This is the Big Level to Watch in the Euro - Forex News by FX Leaders

This is the Big Level to Watch in the Euro

Posted Friday, October 27, 2017 by
Rowan Crosby • 1 min read

It’s been well documented that the ECB gave the EUR/USD an almighty hit yesterday. That said we now need to focus on the best plan to trade it. I think for the most part we have to be sellers. The momentum is just too strong at the moment.

With that in mind I am firmly focused on 1.1623.


Trading Plan

We have a few options for trading at this level. We can sell when we break below that support level. This is a good plan for a larger move lower. We can also wait for a test of 1.1623 and a possible bounce. Then we can sell the bounce.

I think in truth we can use both of these ideas. I would like to see a little bit of a pullback as I suspect we will bounce off this support level. However if USD GDP comes out strong we might just blast through it.


EUREUR/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
0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments