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      • 09.10.2020- EurUsd, GbpUsd, NzdUsd outlook

      09.10.2020- EurUsd, GbpUsd, NzdUsd outlook

      • Posted by Mihai Iacob
      • Categories Forex Analysis
      • Date September 10, 2020
      • Comments 0 comment
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      EurUsd- Medium-term trade with 1:5 R:R:

      As I expected, EurUsd reversed from 1.1750 support and is now trading above 1.18 at 1.1830 at the time of writing
      My outlook remains bearish for this pair and I consider this rebound a good opportunity to buy USD against the single currency.
      A sell trade in the median resistance with an SL above 1.19 could also have a fabulous R:R for those who are patient with the trade for a few weeks.
      A daily close above 1.19 would put a pause in my bearish view for EurUsd.




      GbpUsd outlook:

      On Tuesday, GbpUsd broke the support area from under 1.32 confirming a medium-term trend change.
      At this point, we assist to a normal relief rally and the pair can “come” to confirmation.
      Sellers should wait for the correction to finish and to have a clear sell signal.
      More aggressive traders can try to speculate this possible rally with a tight SL and a target towards 1.3150.

      Note: Personally I would wait for a sell signal and go with the flow!





      NzdUsd outlook:

      As I’ve said in my previous analysis, the false break above 0.67 zone marks a top for NzdUsd .
      The pair dropped to 0.66 after this false break and now is correcting this move.
      My opinion is unchanged from bearish in the medium term and I will look for opportunities to sell this pair for 0.6650 target.



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      Mihai Iacob
      Mihai Iacob is a full time trader, educator, mentor and author. He started his career in 2002 by trading on the local stock exchange in Romania. In 2004, he began his transition to international markets where he has been trading exclusively since 2007 with a strong focus on Forex trading. In 2007, he launched the educational site forexedu.ro with the aim of educating Romanian traders in forex trading and helping them on their way to becoming profitable traders. In 2019 he launches Optimoomfx Telegram channel, a trading signal channel, in which he posts its own transactions, but also analyzes and explanations for subscribers to learn as they earn.

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