Great trade setup!!! My previous EURUSD sell hit all take profit levels during the London Session. If price holds at this area we could see a retest of the highs or a brake.
After a brief reprieve, which largely stemmed from the unwind in Euro funded EM carry trades in ZAR and TRY, the currency is once again on the back foot with the bias remaining to sell rallies. That being said, support in EUR/USD at 1.1290-1.1300 is vulnerable to a break. To add to this, markets are still on the lookout for the announcement of President Biden’s Fed Chair pick and thus market participants with exposure to the Euro are likely to remain agile.
After a brief reprieve, which largely stemmed from the unwind in Euro funded EM carry trades in ZAR and TRY, the currency is once again on the back foot with the bias remaining to sell rallies. That being said, support in EUR/USD at 1.1290-1.1300 is vulnerable to a break. To add to this, markets are still on the lookout for the announcement of President Biden’s Fed Chair pick and thus market participants with exposure to the Euro are likely to remain agile.
