As stocks and stock Futures/Indices continue declining,, Both the EUROS and GBP are under severe PRESSURE. But both USD and JPY shall be strong against all currency crosses in the process of the Investors looking for safe heavens, Risk aversion and carry trade clearance.
Even though the weakness of both the EUROS and GBP persist in the Middle terms, , But we must be cautious that right now ALL Technical indicators are pointing towards extreme Oversold zone due to drastic selling off over the last two weeks.
So all Traders must be alert and keep your exposure low and small while you are still in the Short sell positions for the above currency pairs.Do always have a calculated and affordable Stop loss with Trailing Stop to MAXIMISE your profits.
The next strong support for the EURO/USD is 1.2000, , drifting below this level may lead us to a no man island !!
Similarly, the next support for the GBP/USD is 1.4000, which is an extremely important psychological level !
Happy and enjoy your Forex Trading !!
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