Get started

USDEUR

EUR/USD - Long into AprilRecent yield rises have strengthened the dollar, but promises of trillions in stimulus may weaken the USD further. The rising channel on the EUR is in a 'Multi-Year full-breakout' mode. A breach of the blue channel will cause some re-evaluation. If the previous action in the lower half of the rising channel is to be a repeatable pattern, then we may see a similar double bottoming into the end of Jan before a strong upside into April. The long-run into April presents some key level resistances, where we expect some nuance in trend, but ultimately looking to respect the blue channel. Let's keep an eye on the US 10yr. Peace
Long
by ptero1492
1
8 Good Reasons To Short USDFive world-class investors that are bearish on USD... 1) Ray Dalio “You can’t continue to run deficits, sell debt or print money rather than be productive and sustain that over a period of time. If we don’t work together to do the sound things, to be productive, to earn more than we spend, to build the stability of our currency and build a good balance sheet, we are going to decline." www.marketwatch.com 2) Stephen Roach "The US dollar could collapse by the end of 2021 and the economy can expect a more than 50% chance of a double-dip recession" “The U.S. economy has been afflicted with some significant macro imbalances for a long time, namely a very low domestic savings rate and a chronic current account deficit” “The dollar is going to fall very, very sharply.” markets.businessinsider.com 3) Hugh Hendry “When I look at the world of macro, I think it’s telling us that we need a lower print on the dollar itself.” “I think we need the Treasury, and not the Fed, to step up to the plate and tell the world ‘we’re going to target 70 or 60 on the dollar index.’ That would change the world.” www.cnbc.com 4) Warren Buffet "The rest of the world owns $10 trillion of us, or $3 trillion net." "If lots of people try to leave the market, we'll have chaos because they won't get through the door." "If we have the same policies, the dollar will go down." moneyweek.com 5) Ulf Lindahl will plunge 36% against the euro over the next year or so, taking it to levels it has not seen in more than a decade, and “is the beginning of a very large move.” www.reuters.com Note: Analysts from Citi, Goldman Sachs, and BlackRock are also bearish on USD www.aljazeera.com markets.businessinsider.com www.reuters.com
Short
by UnknownUnicorn13791118
1
EUR /USD Update + Retest of the neckline. Good Day traders !!! On this Pair we have seen a major impulse today and we are sitting at a very strong level of support. On the monthly timeframe we have we have an overextended "W" formation and we just tested the neckline and we are ready to launch !!! Going down to the weekly timeframe we have an M formation and we want to test the neckline which is in confluence of with the 0.5 Fib level taken on the previous impulse. Going down to the daily timeframe we have a H&S that just formed and we want a retest to the neckline which is the same Neckline of the M formation on the weekly timeframe. Everything looks bullish for the moment. From an institutional perspective we have the more short position added on the dollar index which support our bullish idea and also on the Eur on the long run the trend is clearly toward the upside since we are looking at institutions adding long position and closing short positions. Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. Trade safe !!!
Long
by TheDayzen
6
DXY Bounce to 93/94Provided DXY can clear the inclined resistance, we will see a re-visitation of the 93-94 level, with real consequences across the board for commodities. Continuation of a bearish downtrend should resume if this plays out into February, with a deciding point potentially playing out into August. Fundamentally I expect a year of spending/money printing to weaken the dollar to below the critical levels where both inclined supports converge. This path may be invalidated if we go far above the 94 levels. My preferred scenario is that we might see a descending triangle, where the current bounce in DXY is contained and continues downward pressure on its current support level (89).
TVC:DXY
by ptero1492