EURUSD ForecastEURUSD Technical AnalysisForecastsTechnical Analysis

EURUSD Forecast: Draghi and Brexit on Focus

EURUSD Forecast: Draghi and Brexit on Focus

Asia Markets opened with  concerns over the US-China trade issue resurfaced amid the resumption of the high-level talks between the US and Chinese officials. Safe Haven assests such as Yen gain weight.

Economic calendar is very thing and market players will be focused on Mario Draghi’s speech due at 0830 GMT. Another driver of the pair is Brexit news. Potential positive Brexit news would drive the pair higher shortter term.

EURUSD is trading below 1.13500 resistance. Only a clear break above 1.13500 could lead the price 1.14100 – 1.14300 region.

As seen on the H4 Chart, the pair has been trading in a descending channel last 2 weeks. And even the shorter term trend is still bearish.

We may see a Friday’s classic and the pair may test 1.14100 – Profit Taking of the weekend -.

Now we are in a no trade zone , a clear break above 1.13560 can be used as long opportunity targeting 1.14100 – 1.14300 key resistance.

We keep our bearish sentiment midterm.

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EURUSD Forecast: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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