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Forex Analysis & Reviews: The euro is being substituted for sales again
time 07.12.2022 05:23 PM
time Relevance up to, 08.12.2022 05:13 PM

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EUR/USD

The euro has allowed sellers to profit several times, displaying a local maximum before reversing course.

The euro is attempting to pass the 1.0600 level once more, and sales in the range of 1.0580 to 1.0620 appear attractive for speculative trading.

So, starting at 1.0580 or 1.0620, we sell with a low volume, stop at 1.0660, and if the stop is reached, we sell with a higher volume, stop at 1.0720, stop at 1.0760, and repeat the process as necessary.

After receiving a profit of approximately 100 points, we can either take it or stop in the profit zone.

Fundamentally, the market is anticipating a Fed rate increase next week, likely of 0.5%.

Jozef Kovach,
Analytical expert of InstaForex
© 2007-2023
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