Tickmill's Investing Diva, EURUSD Outlook 19-02-20
EURUSD Outlook - On Tuesday we found out that the Canadian manufacturing sales declined for the fourth consecutive month, Global dairy prices dropped -2.9% since last reading, and the U.K. Employment Jumped as Economy Defied Brexit Political Turmoil while Boris Johnson's chief Brexit negotiator said Britain will never sign up to EU rules.
On Wednesday we have the UK and Canada’s CPI, the US FOMC meeting minutes, as well as Australia’s employment change.
Today I’m looking at the EUR/USD pair which obnoxiously dropped almost all February but may have finally found a temporary support at 1.0785.
This level acted as a support multiple times back in 2015. From here, we may see a temporary correction towards 1.0876… but the long term direction remains bearish with 1.0580 as key support.
Do you think the EUR/USD losses will continue into March? Head over to the comments section and let me know!
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Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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