I am not exactly bullish on the dollar with issues that US Special Counsel Mueller has issued a Subpoena for Russia-related documents (lead to potential risk-off sentiment / bearish USD). But there is also a fresh bearish driver for the euro (and the market seems react that way.. so far anyway)
Rational for bearish EUR :
Germany coalition talk over the weekend. Failure to agree could lead to new elections. Wolfgang Kubicki, a member of parliament and deputy leader of the liberal Free Democrats (FDP) said the deadline for decision is on Sunday 6pm (before asian open kah tu?).. and he said kalua nada progress.. “talk will be dead” (no signs of agreement will potentially effect bearish EUR) *potential political concerns
Rational for bearish EUR :
Germany coalition talk over the weekend. Failure to agree could lead to new elections. Wolfgang Kubicki, a member of parliament and deputy leader of the liberal Free Democrats (FDP) said the deadline for decision is on Sunday 6pm (before asian open kah tu?).. and he said kalua nada progress.. “talk will be dead” (no signs of agreement will potentially effect bearish EUR) *potential political concerns
Note
Euro is bid since London open. I am still bearish on Euro. I just see it as another opportunity to short EURUSD at better price. A break at 1.18200 could invalidate this trading planNote
Theres plenty of analyst that says theres no risk-off panic whatsoever in the market. I personally feel its still too soon to say it. I will wait. 1.18200 still untestedNote
It was too soon to say the market not worried about this Germany political uncertainty. This trading plan still valid though I am very likely to scratch this off soon. Different day Different contextNote
Still valid.Note
still valid.Order cancelled
I am not touching this crap. Thanksgiving and FOMC later. I am scratching this off
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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.