Euro fall may takes a while
2020-01-23 06:17:10
One of the major currencies to trade is EURUSD and one that is also heavily traded for its liquidity, lower volatility compared to others.
It is now still in a bullish trend but things might change soon as we await ECB interest rate decision tonight. Will they leave it on hold or lower it further ?
Using the DXY chart as a guide, we can see that it has broken out of the bearish trend line and is charging up nicely. There is a resistance at 97.75 and we think once this level is broken up, it will continue to go higher towards the 98+ level.
No shorting yet, as we monitor the price action tonight