EURUSD Downside Risk

Jonathan Kibbler, September 25th, 2017

Traders we have been watching EURUSD for a while as it struggles to break above its previous highs and is sitting within a weekly resistance zone . We are looking for a break below the daily lows for opportunities for a short position. Weekly chart suggests a weekly retracement could be playing out.

FOMC last week stated they expect to hike rates 1 more time this year which could aid this trade to the downside.

Jonathan Kibbler

About the author: Head currency trader at Colmore FX. Jonathan has been professionally trained by two hedge fund managers in London and has grown a strong passion for financial markets. His trading strategy combines Daily, 4HR and 1HR charts with top down analysis to generate trading ideas.

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