In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we take a close look at the pressure pushing the EURUSD lower.
From a fundamental perspective, yesterday, we saw poorer than expected German ZEW Economic Sentiment figures. The markets were expecting a print of +5.1 but instead saw a 7 basis point deviation to the downside coming in at -2.1. This has the net effect of pushing the euro lower.
The question is, how can we trade these fundamentals form a technical perspective? The simple answer to this question is if we get a break below yesterday’s daily low of 1.1200 then we will look for some high probability trading opportunities below that level.
Pressure Pushing the EURUSD Lower – Full Video Analysis
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