EURUSD is an bearish trend, with a strong pullback to sell for February.
Fundamentally: We have risk of economic slowdown because of Corona-virus in China. China has asked businesses to temp close, consumers not allowed to be out and normal economic activity is not at normal conditions. This makes the market sell the EURO as they depend on CHina and market players buying USD as long as risk is off.
Technically: We are bearish, making a new low but approaching monthly target 1.0926 and aggressive target 1.0870
I'm expecting EU to fall this week with a potential to reverse by the end of the week.
Fundamentally: We have risk of economic slowdown because of Corona-virus in China. China has asked businesses to temp close, consumers not allowed to be out and normal economic activity is not at normal conditions. This makes the market sell the EURO as they depend on CHina and market players buying USD as long as risk is off.
Technically: We are bearish, making a new low but approaching monthly target 1.0926 and aggressive target 1.0870
I'm expecting EU to fall this week with a potential to reverse by the end of the week.
Komen:
The monthly target of Feb has been hit, 1.0926. +165 pips
Dagangan ditutup: sasaran tercapai