Is this a medium term top for EURUSD?
Technicals
Bearish divergence seen on daily chart.
Upside momentum is slowing.
DXY showing same, if not stronger divergence.
Sentiment
Consensus has become EUR positive - in fact, extremely EUR positive.
Fundamentals
All banks raising long term forecasts for EUR.
Even though last month's inflation reading missed expectations, and Draghi wasn't hawkish at all!
This week's ECB conference, UK elections, and next week's Fed meeting all may impact.
Perhaps end of May flows were responsible for the last push up in EURUSD, now may start to fall as fundamentals come back in play.
Technicals
Bearish divergence seen on daily chart.
Upside momentum is slowing.
DXY showing same, if not stronger divergence.
Sentiment
Consensus has become EUR positive - in fact, extremely EUR positive.
Fundamentals
All banks raising long term forecasts for EUR.
Even though last month's inflation reading missed expectations, and Draghi wasn't hawkish at all!
This week's ECB conference, UK elections, and next week's Fed meeting all may impact.
Perhaps end of May flows were responsible for the last push up in EURUSD, now may start to fall as fundamentals come back in play.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.