ridethepig | Draghi Out

24 Eki 2019

A timeless piece of content for Draghi's exit after 8 years at the ECB. On EURUSD I continue buying dips, the Brexit beta has allowed bulls time to pause, however we can continue to comfortably lean on the broader fiscal flows.

Expectations are for dips to be met with large buying interest, stops can be placed comfortably below 1.106x for the day as we grind towards the widely tracked 1.12xx target. Arguably Europe are miles ahead in the race to the bottom vs. the US, one can argue the case for US lagging the cycle suggests the move in EURUSD will break substantially higher above 1.20xx and beyond.

For the flows today....EURUSD support at 1.1020/1.1065/1.1100 resistance at 1.1180/1.1210

Thanks and good luck all those trading ECB today.