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Eurusdbreakout

never marry a position, huge upside unlocked in euroMorning guys, I'm sure many of you didn't expect to wake up and see me posting this chart.. As one of the biggest bears on the euro here on here alongside many others; it is only right to keep you updated with my outlook. The end of the downtrend in the euro is around the corner, whilst there is little support below 1.04x a break below certainly unlocks parity; I am expecting an active weekly open from Europe with the US remaining choppy until fed. Gold is marching deeper with the hikes play whilst Euro is chopping in same area with the map clear as day for FED... strange you may think? We have risk all over the place with risky european elections, UK about to jump in the abyss and the never ending populists leading the pack. BOE overstayed low rates that inflation is already hitting deep in the UK, finally getting back to norm in EZ. 1.048x is the rain maker to the short side, until we take out 1.09 then we must give bears the benefit of the doubt; I am starting to scale in longs already as retail doesn't even smell whats going to happen next. Soon we will see how it pans out when the honeymoon ends. Choose your positions in the comments below; please only one call and one side, I will pick a few of your calls and track the flow banker
Long
by TheBanker
17
This weeks ECB meeting & EURUSDGood evening traders This is no time to taper, simply because of the challenging inflation dynamics in the Eurozone. A premature taper, which a decision to this effect at this meeting would certainly only complicate the ECB's task of getting the EZ out of low inflation and fundamentally banishing deflation risk. Some have been discussing scenarios that aim to split the difference for the ECB for example purchases to a monthly pace of EUR 40-50 bn, but then extending the program for longer, say through Q1 2018. We think such proposals fail to take account of how sceptical markets have become where the ECB is concerned. After all the Dec '15 meeting and the misfire in March of this year have taught markets to be extremely sceptical as to the ECB's willingness and ability to ease. Markets are putting more weight on the tapering signal rather than any kind of program extension. Upside is unlikely to extend much beyond 1.08. Markets may also be anticipating that the calm response to the weekends political events will encourage ECB to emphasize the limits to its QE intentions. All the best, please remember to give this a thumbs up and comment your views.
Short
by TheBanker
11
an extraordinary pair (part II)As I am sure you are aware the pair came up against the lower bound of the multi decade trend near the 1.03 handle late last year. It has also tested a descending channel limit on the daily chart around that time leading to an initial rebound. It is important to realise that a larger correction is not expected so long as support at recent lows of 1.0350 remain intact. Please remember to give this chart a thumbs up if you found this helpful. Best wishes
Short
by TheBanker