A short position on EUR/USD was opened due to bearish sentiment driven by weak economic data and concerns about deflation in the Eurozone. Technical indicators, such as a breakdown below key support levels and negative momentum, reinforced the decision. Additionally, diverging monetary policies, with the Federal Reserve tightening and the European Central Bank maintaining a dovish stance, suggested potential for EUR depreciation against the USD.
Note
Chart incorrectly showed the STOP LOSS. It should be a bit more. (1.0907)Note
Entry: 1.0899Stop Loss: 1.0907
Take profit: 1.0880
Trade active
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.