EUR/USD Short position trade idea
Technical analysis: EUR/USD has broken a bullish daily trend recently as well as produced a distribution schematic. We have a price trap that has been violated and spiked the highs which a significant piece of my analysis when it comes to market structure. A break through the zone current price is resting on and a retest will provide entry for a short position on the price trap equilibrium. My target is back down to the daily resistance as well as an outer Bullish TL.
Fundamental analysis: Recently we have seen a $600 stimulus passed in the US. $2000 stimulus was pushed for but shut down which caused a big disappointment in the stimulus provided. With that being said I expect a bounce in the dollar which would give strength to the USD and cause EU to make it's expected pullback.
As usual proper trade/risk management is always encouraged
Happy Holidays and Happy trading!
Fundamental analysis: Recently we have seen a $600 stimulus passed in the US. $2000 stimulus was pushed for but shut down which caused a big disappointment in the stimulus provided. With that being said I expect a bounce in the dollar which would give strength to the USD and cause EU to make it's expected pullback.
As usual proper trade/risk management is always encouraged
Happy Holidays and Happy trading!
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