ridethepig | EUR Market Notes 2020.04.22
As long as risk sentiment remains negative, USD will remain with an underlying bid. We are starting to see calmer waters on the FX board as euro begins to tread carefully inside this 1.08 handle. I must say I was surprised at the lack of selling interest yesterday after the Oil crash and Equities beginning to show signs of following through, there is definitely something coming on the political side for Europe its just a matter of when rather than if, after all it is the only way to save the currency.
For now, European countries are still far apart on Eurobonds (in particular Germany) meaning it will take further pressure on the currency to force Merkel to bend the knee. Happy to add more shorts on any rallies into 1.089x loading zone and look for a main target at 1.05xx. For those wondering about how to play the momentum leg, a very tradable break of 1.076x support is still on the menu today.
For now, European countries are still far apart on Eurobonds (in particular Germany) meaning it will take further pressure on the currency to force Merkel to bend the knee. Happy to add more shorts on any rallies into 1.089x loading zone and look for a main target at 1.05xx. For those wondering about how to play the momentum leg, a very tradable break of 1.076x support is still on the menu today.
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Catatan
Heads up guys... time to pay attention for the NY afternoon session as we approach 1.080x support!Trading ditutup: target tercapai
1.076x hit! Well done all those clearing shorts on the first target!
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.