Is it Time to Short the EUR?
If we look clear on the charts today we see all pairs are red. Just the GBP/USD and GBP/JPY are not tradeable for our intraday strategy. Why EUR/USD and EUR/JPY and not the other 4 Pairs? EUR/USD and EUR/JPY are already in the cheap zone for us. Of course, the other pairs are on a clear downtrend, so we short them as well, but the best opportunity for us is the EUR/USD & EUR/JPY. On the right side, we see the dollar index, which also shows us a possibility to go up. This means that all pairs where the USD is on the second places as the EUR/USD are showing some weakness because of USD strength. Overall we can say the market is in a clear short direction on all 8 Pairs. Happy trading and stay tuned for the next Morning briefing.