Fundamental analysis
Euro:
Bearish
Cutting interest rates deeper into negative and Christine Lagarde looking to cut them even more.
Data coming out of the Eurozone is negative (German auto-industry and export data from France = two biggest economies in Europe).
Eurozone near a recession (hence why the UK want to abandon ship so dearly).
China and Japan pulling out the investments made into the Eurozone (in countries like Portugal, Greece, ...) meaning a capital outflow.
USD:
Bullish
Strong/moderate economic data.
High interest rates (even though Trump is looking to cut interest rates to counter an overly strong USD).
Reserve currency.
Technical analysis:
Price is looking to break through the 20-day moving average to retest the resistance between 1.10200 and 1.09950.
If it "wicks" through the resistance upon the downward sloping trend line I will enter. If not I will stay clear. Good entry or no entry.
Entry: 1.10270-1.10280
TP: 1.09000
Euro:
Bearish
Cutting interest rates deeper into negative and Christine Lagarde looking to cut them even more.
Data coming out of the Eurozone is negative (German auto-industry and export data from France = two biggest economies in Europe).
Eurozone near a recession (hence why the UK want to abandon ship so dearly).
China and Japan pulling out the investments made into the Eurozone (in countries like Portugal, Greece, ...) meaning a capital outflow.
USD:
Bullish
Strong/moderate economic data.
High interest rates (even though Trump is looking to cut interest rates to counter an overly strong USD).
Reserve currency.
Technical analysis:
Price is looking to break through the 20-day moving average to retest the resistance between 1.10200 and 1.09950.
If it "wicks" through the resistance upon the downward sloping trend line I will enter. If not I will stay clear. Good entry or no entry.
Entry: 1.10270-1.10280
TP: 1.09000