Preferred direction: SELL
Comment: The price did not approach the level of 1.09000, at least in the first half of this week, and the euro quickly fell to 1.08000. In the short term, the decline is likely to continue. An important point, of course, will be today's statistics from the US on GDP, the labor market, and so on.
We consider two scenarios, which are depicted in the graph. Scenario №1 assumes a fall from the level of 1.08000, below which the price is currently located. Scenario №2 - preliminary growth above the level of 1.08000, the buyer’s attempt to gain a foothold above, and to sell it will be necessary to wait until it closes below the specified level again. The target for the fall is considered to be at the level of 1.07500.
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Comment: The price did not approach the level of 1.09000, at least in the first half of this week, and the euro quickly fell to 1.08000. In the short term, the decline is likely to continue. An important point, of course, will be today's statistics from the US on GDP, the labor market, and so on.
We consider two scenarios, which are depicted in the graph. Scenario №1 assumes a fall from the level of 1.08000, below which the price is currently located. Scenario №2 - preliminary growth above the level of 1.08000, the buyer’s attempt to gain a foothold above, and to sell it will be necessary to wait until it closes below the specified level again. The target for the fall is considered to be at the level of 1.07500.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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