Hi traders,
This week we saw Lagarde say that the monetary policy for the European union needed to be reviewed suggesting that monetary policy tools such as quantitive easing may need to be reintroduced. Trump mentioned that tariffs will be put onto cars (25%) and wine (100%) if there is no favourable trade deal for the US between the two economies.
Technically speaking the EUR has been on a bearish trend breaking past the 110800 handle and keeping below it. The stochastic shows strong bearishness and we are way below the S1 of the de mark's for the month.
We are very over extended for the month so we should be due for pullbacks or consolidation. To play this asset effectively you need to be looking to short the EUR on pullbacks between the two levels, 110800 and 109900.
All the best,
Aardall
This week we saw Lagarde say that the monetary policy for the European union needed to be reviewed suggesting that monetary policy tools such as quantitive easing may need to be reintroduced. Trump mentioned that tariffs will be put onto cars (25%) and wine (100%) if there is no favourable trade deal for the US between the two economies.
Technically speaking the EUR has been on a bearish trend breaking past the 110800 handle and keeping below it. The stochastic shows strong bearishness and we are way below the S1 of the de mark's for the month.
We are very over extended for the month so we should be due for pullbacks or consolidation. To play this asset effectively you need to be looking to short the EUR on pullbacks between the two levels, 110800 and 109900.
All the best,
Aardall