Looking at this daily, you see the impact post-election “Trump-Trade” has had on the dollar, and also we see a weaker Euro, as German government is rattled, and economic data has not been very promising. Still the ECB hasn’t guaranteed cuts and has continued to emphasize inflationary pressures. One can easily argue either bullish or bearish for this pair at the moment. Daily candle pushing into long range support makes higher probability long bets enticing. Still lots of data to go this week, including US PPI, fed speakers, and retail sales to close the week. Could be significant upside if any surprises happen.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.