Home EUR/USD: Will It Hold Key Support Around 1.1850 Or Will It Head To 1.16? – TD
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EUR/USD: Will It Hold Key Support Around 1.1850 Or Will It Head To 1.16? – TD

 

TD Research discusses the USD outlook and notes that its direction is the clear driver of the FX markets now.

Here is their view, courtesy of eFXdata:

“It is noticeable how the bulls have resurfaced after an extended period of hibernation…We still believe the move hinges on an unwind of a well-populated short USD that reflects a shift in the narrative rather than fundamentals.F

For EUR/USD, TD notes that the key question over the next two weeks is  whether the EUR could hold key support around 1.1850 or if it is headed to 1.16.

TD  expects the former (1.1850 support to hold),  and holds its  structural view of a break of 1.30 into 2019.

Trade-wise,  TD thinks that this EUR/USD view is probably best expressed through options  like EUR/USD calls spreads.

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.