EUR/USD: the dollar is reinforcing itself

As the dollar continues to strengthen and put the squeeze on metals such as silver and gold, the EUR continues to suffer with a further decline last week. The rebound allows us to sell from the 50% of the flow candle of Thursday to continue to exploit the downward trend. The symbolic parity level also seems to pull the pair down.

MEDIUM TERM FORECAST
Given the key chart factors we have mentioned, our medium-term view on the EUR/USD is negative.

Our entry point is $1.0404. Our bearish scenario price target is $1.0000. In order to preserve the capital invested, we advise you to place a protective stop at $1.0547.

The expected return on this forex strategy is 404 pips and the risk of loss is 143 pips.