GAP needs to be filled - 1.0780 - EUR BEARISH Long Term
Hello traders,
There is currently a gap in the market which is yet to be filled at 1.0780.
Any short term spike in the market is an opportunity to sell lower.
Germany is in a recession and the EU as a group is not far behind.
The ECB has also cut interest rates into the negative territory, therefore the EUR is bearish long term.
The DXY is due a pull back lower, therefore we could see some upside on the EURUSD before it breaks lower.
Major resistance at 1.1350 - Great entry for short position
Long term we could see the EURUSD down at 1.0600
Please let us know your thoughts on the set up
forexstoreau.com
There is currently a gap in the market which is yet to be filled at 1.0780.
Any short term spike in the market is an opportunity to sell lower.
Germany is in a recession and the EU as a group is not far behind.
The ECB has also cut interest rates into the negative territory, therefore the EUR is bearish long term.
The DXY is due a pull back lower, therefore we could see some upside on the EURUSD before it breaks lower.
Major resistance at 1.1350 - Great entry for short position
Long term we could see the EURUSD down at 1.0600
Please let us know your thoughts on the set up
forexstoreau.com
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