Take Profits From Euro Weakness

Take Profits From Euro Weakness

Looking at the technical analysis showing the EURUSD set to breakout after months of sideways movement due to potential Euro weakness.

Soon we’d be looking at potential breakouts, possibly to the downside.

We could be seeing return of US Dollar strength as we move further into 2nd quarter as well as taking into account the Eurozone that has seen such a dramatic drop in growth over recent months proving to make further Euro weakness.

The ECB has started to reduce the quantitative easing due to the strong recovery in the region with real GDP has expanding for 19 consecutive quarters, meaning  it doesn’t need the excess liquidity provided by flooding the market with cheap Euros.

We exited with a nice £644.50 for the fund.

Euro weakness

(Our trading and image was done using an account with UK based broker IG)

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