Trade Plan for the EUR/USD 🇪🇺 🇺🇸 (WN36)
Detail on the orders placed by Jeepson Trading at eToro and 5ers
FUNDAMENTAL AND SENTIMENT ANALYSIS
The most recent significant event was on Thursday when the ECB Governing Council hiked the rates by 75bps to 1.25 percent which was expected. The projections for inflation have been raised and lowered for GDP indicating a pessimistic outlook towards the EU economy.
The next ECB meeting is in October and a further rate hike is expected although a consensus on the size is still in debate.
Market focus remains on digesting the recent meeting.
ORDERS
The momentum on the $EURUSD over the short-term has moved from bearish to mixed due to the US dollar losing some value. Over the longer term, the EUR/USD is not expected to move away from its bearish momentum and trajectory and is likely to slide towards $0.965. An order to SELL the $EURUSD is in progress and will be evaluated if the short-term chart indicates a break from its downtrend.
Stop Loss 1.021
High Risk Sell 1.011
Low Risk Sell 1.001
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