[Potential] EURUSD: Awaiting Brexit's Future Path
EURUSD OutlookTechnicals:
- Stochastics moving into Oversold conditions
- Price action close to a Short-Term Resistance Trendline (not a strong trendline and may break)
Fundamentals:
- Brexit uncertainty in its final stages may cause some volatility on the EUR pairs and GBP pairs; causing it to break the ST Resistance Trendline
- On a longer perspective, a weaker dollar outlook from the more dovish FED whom are likely to stay put due to economic datas not released from the ongoing govt shutdown. The chances of FED continue to hike continues to fall and this gives opportunity for carry trades to flourish.
We will be waiting for confirmations of multiple confluences before considering this trade setup ready. Patience is the key to success.
*This pair outlook is provided on an advisory basis. Any trade decisions made based on this outlook is a personal decision and we are not responsible for any losses derived from it.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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