Weekly Overview October 13th. Another week ahead. Another week filled with data we can take advantage of.
The main event for us this week will be ECB interest rate decision. ECB is set to cut interest rates by 25BPS coming to 3.40% from the current 3.65% interest rates. Another data coming out for the Eurozone is the inflation print which is set to cool of to 1.9% in inflation numbers.
That said we will try to use this Euro weakness and try to capitalize on it.
Our outlook for the week is simple. Short euro.
EUR/CAD shorts
The bias is explained, we need a technical confirmation.
EUR/JPY shorts
EUR/JPY was bad to us in October, but it has to stay on our watchlist. Still looking for a technical confirmation around this resistance level to get into the trade.
Please note that this is only our opinion and you shouldn’t take it as investment advice. Make your analysis and do your research on the markets before execution. Remember that your capital is at risk and it is fully your responsibility to manage your own risk.
Our opinions and biases are for educational purposes only.