Euro-dollar parity seems to be a case of WHEN, not IF.
With the EURUSD trading at 1.014, and Euro weakness likely to continue, the trend following idea is to look for momentum to push price to the downside, towards the 1.00 (parity) level and possibly beyond.
US NFP data to be released today, a stronger than expected employment data could push the Federal Reserve towards a more aggressive policy hike, or that markets could further price in a 75bps hike to come from the Federal reserve.
As price approached the key level of 1.00 beware that strong retracements could be likely. However, beyond that, the next support is at 0.97
With the EURUSD trading at 1.014, and Euro weakness likely to continue, the trend following idea is to look for momentum to push price to the downside, towards the 1.00 (parity) level and possibly beyond.
US NFP data to be released today, a stronger than expected employment data could push the Federal Reserve towards a more aggressive policy hike, or that markets could further price in a 75bps hike to come from the Federal reserve.
As price approached the key level of 1.00 beware that strong retracements could be likely. However, beyond that, the next support is at 0.97
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