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Euro And Cable React Strongly To Terror Attacks In Brussels

Euro And Cable React Strongly To Terror Attacks In Brussels

While there was only little movement in the finical markets yesterday, the market reacted strongly to multiple explosions in Brussels today. The euro slid below 1.12 on heightened geopolitical risks. As history has shown that such reactions tend to be short-lived, we may see a pullback towards 1.1250.

The IFO Business Index showed that confidence improved for the first time in four month but data was overshadowed by the attacks.

The British pound fell sharply towards its next support at 1.4250 on speculation the Brussels terror attacks will boost the motivation of voters in favor of leaving the European Union. We currently see a lower support at 1.4220, whereas a current resistance is seen at 1.4360.

Volatility has been very high during the last two weeks and many investors and day traders have locked up a good profit which is why many investors prematurely went on vacation or now refrain from taking any positions ahead of the Easter holidays. This week we expect volatility to remain moderate with traded volumes being subdued. Traders should therefore not expect too much and take profits at smaller targets.

Here are our daily signal alerts: EUR/USD Long at 1.1262 SL 25 TP 20, 40 Short at 1.1227 SL 25 TP 20, 50 GBP/USD Long at 1.4410 SL 25 TP 40-50 Short at 1.4335 SL 25 TP 20, 60

We wish you good trades and many pips!

Disclaimer: Any and all liability of the author is excluded.

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