How EUR/USD Could Rebound..
The recent fall seen on the EURUSD is reflective of growing USD strength within a major 'Risk On' market.
Investors far preferring to hold USD than most major currencies, except risk currencies like the CAD/NZD/AUD.
EUR and GBP getting left behind slightly due to natural investor preference.
We know the ECB is fairly tentative on lowering rates as they have stated there is a lesser need to based on the state of the economy and economic recovery.
The case is somewhat similar for the US, as Trump will likely have an inflationary effect and the FED is confident in their current position.
Any further data will likely amend this or keep it the same, but I would not be surprised if rallies occur after the extent of the current fall.
Long bias maintained.
Investors far preferring to hold USD than most major currencies, except risk currencies like the CAD/NZD/AUD.
EUR and GBP getting left behind slightly due to natural investor preference.
We know the ECB is fairly tentative on lowering rates as they have stated there is a lesser need to based on the state of the economy and economic recovery.
The case is somewhat similar for the US, as Trump will likely have an inflationary effect and the FED is confident in their current position.
Any further data will likely amend this or keep it the same, but I would not be surprised if rallies occur after the extent of the current fall.
Long bias maintained.
Note
Reasonable price rejection on the EURUSD> Looking for follow through. Awaiting key retail sales data.Note
Still long minded into Monday.
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Free Pro Multi Asset Trading Guide:
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
Disclaimer
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.