EUR/USD is shaping up for a solid short entry. 🤔🤔🤔
The pair has tested the 61.8% Fibonacci retracement level and a key liquidity zone where stop losses tend to cluster.
At the same time, the dollar index is turning upward on a larger scale.
A short position with tight stops could make sense, with a target around $1.00.
Considering the increasing geopolitical risks in Europe, holding funds in euros doesn’t seem wise anymore.
In times like these, staying in USD looks like the safest bet.
Dollar Index:
SP500/SPY:
GOLD/USD:
The pair has tested the 61.8% Fibonacci retracement level and a key liquidity zone where stop losses tend to cluster.
At the same time, the dollar index is turning upward on a larger scale.
A short position with tight stops could make sense, with a target around $1.00.
Considering the increasing geopolitical risks in Europe, holding funds in euros doesn’t seem wise anymore.
In times like these, staying in USD looks like the safest bet.
Dollar Index:
SP500/SPY:
GOLD/USD:
Trade active
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.