SELL EURUSD 4HRS
EURUSD
Downtrend
strong dollar
DXY
To the downside, the 1.09 level underneath should be a target to say the least, and if we can break down below that target, then the longer-term downtrend will continue to hold the market under its thumb, perhaps reaching down towards the gap underneath at the 1.0750 level that has a major gap around it. Ultimately, market participants will continue to favor the US dollar due to not only the overall trend but the recession that seems to be coming the way of the European Union. Ultimately, the United States is still growing while the European Union isn’t. Beyond that, negative yields in the bond market in the EU will continue to work against any type of Euro strength.
www.bongoforex.co.uk
EURUSD
Downtrend
strong dollar
DXY
To the downside, the 1.09 level underneath should be a target to say the least, and if we can break down below that target, then the longer-term downtrend will continue to hold the market under its thumb, perhaps reaching down towards the gap underneath at the 1.0750 level that has a major gap around it. Ultimately, market participants will continue to favor the US dollar due to not only the overall trend but the recession that seems to be coming the way of the European Union. Ultimately, the United States is still growing while the European Union isn’t. Beyond that, negative yields in the bond market in the EU will continue to work against any type of Euro strength.
www.bongoforex.co.uk