Forecast – BEARISH

Date Posted:       24 Jan 2020

Currency Pair:     EURUSD

Current Rating:   SELL

Forecast Move:    DOWN

Key Tech Level:    1.1072

Potential Opportunity

Trade Action:   SELL RALLY

Stop Loss          1.1103        -35 pips

Entry                  1.1068

Take Profit        1.0952      +115 pips

Chart & Forecast Details

The EURUSD has broken down through 1.1070 support and looks destined to test long term support around 1.0940 after the ECB’s dovish comments at the conclusion of their meeting. To help the opportunity along we have both German and Eurozone Manufacturing data scheduled today. Weak data and we should see the EURUSD break down through 1.1000.

Key Trade Day: Friday 24th Jan – German & Eurozone Manufacturing PMI

Brad Gilbert

CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades all markets and all timezones.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

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