Good morning everyone,
Again market proved me wrong. Yesterday, six central banks led by the Federal Reserve made it cheaper for banks to borrow dollars in emergencies in a global effort to ease Europe’s sovereign-debt crisis.
I personally felt that this is just a temporary boost to the eurusd. 1 reason is that this move is just going to increase the debts of Europe. If such is the case, they are very similar to US with so much debts. They will also wish to keep their currency low.
So I reckon that eurusd will form consolidation again at this current bottom. 1.3210 - 1.3530. Good to pick short around 1.3480 - 1.3500 with SL just slightly above 1.3530. Target exit is around 1.3280.
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