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Thread: Eur/usd - what to do sell the rip or buy the dip?

  1. #1
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    Default Eur/usd - what to do sell the rip or buy the dip?

    The EUR/USD pair dropped on Monday after a strong US ISM data pushed the treasury yields higher. The spot closed at 1.1363 levels. Monday’s weak close adds credence to Friday’s bearish hammer like pattern and signals the bull market has ended at least for the short-term.

    Buy the dip?
    The retreat from the last week’s high of 1.1446 looks more like a technical pullback. Last week’s rally was largely based on the speculation that the ECB might hike rates or begin QE taper earlier than expected. However, as explained here yesterday, the ECB rate hike talk looks overdone. Moreover, the Fed is still the most hawkish central bank out there. Thus, strong dip demand is unlikely this week, unless Friday’s US wage growth numbers are horrible.

    Sell the rip?
    The Fed is expected to raise rates by another 25 basis points this year. The speculation is on the rise that it would begin the balance sheet reduction in September. Treasury yield posted solid gains on Monday as well. The 2-year yield closed in on the highest level since 2008. Meanwhile, as said earlier, the ECB premature tightening talk looks overdone. Hence, upticks could be met with fresh offers, unless Friday’s US wage growth figures put a question mark on Fed’s plans to tighten policy at a faster pace.

    Reference: http://forexdaytips.blogspot.com/201...r-buy-dip.html

    To know our latest forex signals or forex trading tips along with stop loss and target price visit www.mmfsolutions.sg

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    Default

    EUR/USD Market Signal


    Status:Close ENTRY POINT: Sell at 1.1445 TAKE PROFIT: 1.1414 STOP LOSS: 1.1486

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