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Short EURUSD

by Ghassen G, February 3, 2022

EUR/USD H1 Overall Idea= Fundamental Analysis//Setup=Technical Analysis

by Ghassen Ghozzi February 3, 2022

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EUR/USD

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Short

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H1

Timeframe:

H1

Analysis Method:

Overall Idea= Fundamental Analysis//Setup=Technical Analysis

Analysis:

Fundamental Analysis: The USD is strongly bullish from a fundamental perspective, manily because the Fed monetary policy which is considered as Hawkish, market participants may now start a new round of pricing in a more aggressive FOMC plan especially after the ECB meeting this afternoon, ECB president Christine Lagarde will most likley maintain its dovish stance as it still consider inflation in the Eurozone as “Transitory” ////Technical Analysis: The medium-Term outlook still bearish, i consider the last upward move started on Friday to be a corrective wave to the overall trend, and as the price reacted to 0.618FIB, it could start a new round of selling pressure just after the ECB meeting,

Trade Plan:

Short the EURUSD with Several Targets
there are more screenshot in the comments section of the analysis from January 31

Risk Management:

Targets= 1.11601///1.10340
R/W= 1.5:1 to 4:1
it may be less risky to take a wait and see position until the ECB meeting worked out.

Things To Watch For:

ECB Monetary Policy Meeting

LEAVE YOUR COMMENT HERE:

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  1. January 31, On the daily chart, the corrective wave was the most probable outcome with a final target of 0.618FIB, the price reached that level yesterday and now it is heading down activating the BPO1c

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