December 7, 2022

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Trade ideas thread – European session 1 July 2021

1 min read

Daily thread to exchange ideas and to share your thoughts

The technicals are arguably going to be the key story in the session ahead, as we continue the countdown to tomorrow’s NFP release.Invest in yourself. See our forex education hub.

EUR/USD is flirting with a drop below the post-FOMC low on 18 June and that spells danger for a further drop towards 1.1800 next.

Adding to that is the close and break above 111.00 in USD/JPY as well.

Those will be the two key charts to watch as the dollar continues to flex its muscles on the week, not letting up even in month/quarter-end trading yesterday.

Oil will also be a focus with OPEC+ meeting later today and if there are to be any hiccups, I’d still argue for scaling in on longs in the bigger picture for oil – at least that’s what the current outlook continues to suggest.

What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.




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