Market Watch – EURUSD Forecast 7-12th September 2014

Published by on September 6, 2014 | 1 Comment

During the summer months trading the euro was not too complicated. Because a dovish ECB was widely expected traders shorted euro for quite some time. Last week they were proved right and the ECB decided to cut rates into even deeper negative territory. But markets are forward looking so the question now is what’s next?Since june the euro lost more than 1000 pips against the dollar without really having any significant correction, this is symptom of an oversold condition. Considering the need of a correction from the dollar side as well (Dollar forecast here) next week we could see a short healthy pull back in the euro.

Chart

But, this does not mean I am getting bullish on the euro, on the contrary I would suggest to wait for a pull back to start fresh shorts from a more convenient position.

Further details and suggestions can be viewed in my latest video:

Good luck trading!!!

Filed in: EUR/USD Tags: , , , , , , , , , , ,

You might like:

Today’s myth: the almighty central bankers Today’s myth: the almighty central bankers
Is the stock rally already over? Is the stock rally already over?
ECB unleashed QE in the curerncy war, who is the next? ECB unleashed QE in the curerncy war, who is the next?
Is the Eurozone doomed to fail? Is the Eurozone doomed to fail?

One Response to "Market Watch – EURUSD Forecast 7-12th September 2014"

Leave a Reply

Submit Comment
© 2017 How to trade for a living. All rights reserved. XHTML / CSS Valid.
Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions..