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Coleman: Why I’m selling EURUSD
Increased buying within the Dollar Index has created lower levels in EURUSD, which is why Ian Coleman from First 4 Trading is looking to sell at the market open.
This bearish trend shows no indication of stopping. Key lows were broken on Wednesday as price levels now head towards the daily Ichimoku cloud.
Current currency levels indicate minor shifts due to potential geopolitical risks, with the euro falling to its lowest level against the dollar in two weeks on Wednesday at USD 1.3662. As tensions continue to erupt in emerging markets, particularly Ukraine, the currency market could prove vulnerable.
Ian is looking to sell at the market open with a stop placed at USD 1.3715. His two targets for the trade are: USD 1.3640 and USD 1.3605.
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00:54 minutes
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