Good morning traders,
I trust you are all enjoying your time off, whilst I have some time I decided to do another eur/$ chart, as most of you already know my incredible bearish outlook on the pair still stands;
The bearish break looks similar to that found in August 2015 suggesting a move toward the trend lows at 1.052xx
The ECB appears to be on hold for now putting further focus on a fiscal response to support growth. If they do ease further then the ECB will find it increasingly difficult to weaken their currency so all eyes are on the fed ahead of FOMC on wednesday. The risk to this trade is the FED sounding more dovish and thus weakening the USD and the chances of further hikes in 2017.
Your support by liking and commenting is much appreciated!
-B
I trust you are all enjoying your time off, whilst I have some time I decided to do another eur/$ chart, as most of you already know my incredible bearish outlook on the pair still stands;
The bearish break looks similar to that found in August 2015 suggesting a move toward the trend lows at 1.052xx
The ECB appears to be on hold for now putting further focus on a fiscal response to support growth. If they do ease further then the ECB will find it increasingly difficult to weaken their currency so all eyes are on the fed ahead of FOMC on wednesday. The risk to this trade is the FED sounding more dovish and thus weakening the USD and the chances of further hikes in 2017.
Your support by liking and commenting is much appreciated!
-B
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