Hi, everyone, hope you guys having great week.
According to last analysis, we had good chance to have a successful trade.
Let's see what we had and how it was.
We can see
1. descending channel has been kept
2. the price has been dropping by resistance on 1.02000 which we had a sell position.
3. resistance on 1.00300
4. support on 0.99000
5. support on 0.97000 which is bottom of descending channel
We should check
1. Euro zone CPI (YoY) (Aug)
We can expect
1. the price keep dropping by resistance on 0.99300
2. the price goes upward by support on 0.97000
In our sight, EUR will be dropping till 0.97000 because of FOMC.
Fed will increase there interest rate by 75bp or maybe 100bp and this will cause the dollar price jumping up.
For that, I recommend keeping short position till FOMC.
Hope you guys have good trade today and this insight is helpful.
Let's see how it works. Thanks for reading.
According to last analysis, we had good chance to have a successful trade.
Let's see what we had and how it was.
We can see
1. descending channel has been kept
2. the price has been dropping by resistance on 1.02000 which we had a sell position.
3. resistance on 1.00300
4. support on 0.99000
5. support on 0.97000 which is bottom of descending channel
We should check
1. Euro zone CPI (YoY) (Aug)
We can expect
1. the price keep dropping by resistance on 0.99300
2. the price goes upward by support on 0.97000
In our sight, EUR will be dropping till 0.97000 because of FOMC.
Fed will increase there interest rate by 75bp or maybe 100bp and this will cause the dollar price jumping up.
For that, I recommend keeping short position till FOMC.
Hope you guys have good trade today and this insight is helpful.
Let's see how it works. Thanks for reading.
