www.varchev.com

Here's Why EUR/USD Is Likely to Move Sharply Lower

Rating:

12345
Loading...

The euro/dollar currency pair (EUR/USD) has been trending lower for almost tow year, and we don't expect anything to change just yet. This is a very intriguing foreign exchange play with a great risk-to-reward ratio. From May 2014 to early 2015, the EUR/USD just melted with no significant corrections.

gr

After about a year of bearish momentum, we started to see a sideways correction. Corrections are often a healthy part of a longer-term trend's continuation, although many people may view them as reversals of the trend. In the current case, we think the EUR/USD's downward trend will continue. Followers of Elliott Wave theory will view the daily as looking like an ABCDE triangle.

Look for price to stall out around the 1.15000-1.16000 level before you sell, with your stop losses set at 1.17000. Still, with a stop so close to the previous high, professional trading desks will know most retail traders have stops there and may cause the pair to spike before making it tank.


 Varchev Traders
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance

London


25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256

Universal numbers

World Financial Markets - 0700 17 600    Varchev Exchange - 0700 115 44

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.


Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

chat with dealer
chat with dealer
Cookies policy