EUR/USD long: 1/20/2025: Celebration and Consternation
Hello traders
Tomorrow we will Celebrate one of the greatest human beings who have walked the earth in recent memory, Dr. Martin Luther King. He stands shoulder to shoulder with the South African hero, Nelson Mandela.
It is an easy segue to the other South African, our new Co-president, Musk. He poured an unprecedented amount of money into Trump's campaign which literally bought him a seat at the table, right next to the President elect.
If this is not the start of the USA oligarchy, then what is it? Trump is already packing his Cabinet with other billionaires. So, dear reader, if you had voted for him, my prayers and thoughts go out to you that DJT will honor and respect your vote to represent your best interests.
I am a registered Independent voter, so I am not holding my breath that this term will be better than 2016-2020.
On the one hand he is boasting how he will stop the Russian land grab and invasion with a phone call. In the same breath he starts talking about acquiring Canada and Greenland as US territories. What the Fudge!!!
Consternation indeed!!! The America First Doctrine is kind of obvious. We'll always look out for our country first but his egregious disregard/hatred/resentment of other countries and ethnicities is unconscionable.
However, enough about the mercurial and unhinged presidents.
The point is, do not react to his every word and promise. Let the market instruct you how to trade moving forward. Watch the DXY, US10Y, US2Y, Gold and even Bitcoin(to gauge risk sentiment) like a hawk. That should be your guiding light, not all the nonsense coming out of Trump's mouth. Once it is in Congress and is about to become law, THAT is when you start worrying about whatever it is: invading other countries, taking away Civil Rights, shutting down the Press, blowing up our National Debt by another 8+ Trillion like the last time by providing tax cuts for the 1% and corporations, trying to rescind Obamacare, cutting Medicare and Social Security benefits to pay for his tax cuts for the rich, f****ing up our planet even more with more drilling etc. etc. Take your pick.
TECHNICAL: EUR/USD is starting to form an inverted head and shoulders with good support at 1.0260. The weekly RSI is above 30.
FUNDAMENTAL: The USD still has the upper hand but there are hairline cracks in our economy. PPI and CPI have ticked down a bit. The December retail sales print is concerning. Consumption is the engine of our economy.
EURO zone CPI has increased. So has German CPI. These are tiny green shoots. German PPI later tonight.
My tentative conclusion is that there is a possibility that neither Central Bank will cut rates at the end of the month. All we can do is keep our focus on all the daily developments from all quarters.
Tomorrow we will Celebrate one of the greatest human beings who have walked the earth in recent memory, Dr. Martin Luther King. He stands shoulder to shoulder with the South African hero, Nelson Mandela.
It is an easy segue to the other South African, our new Co-president, Musk. He poured an unprecedented amount of money into Trump's campaign which literally bought him a seat at the table, right next to the President elect.
If this is not the start of the USA oligarchy, then what is it? Trump is already packing his Cabinet with other billionaires. So, dear reader, if you had voted for him, my prayers and thoughts go out to you that DJT will honor and respect your vote to represent your best interests.
I am a registered Independent voter, so I am not holding my breath that this term will be better than 2016-2020.
On the one hand he is boasting how he will stop the Russian land grab and invasion with a phone call. In the same breath he starts talking about acquiring Canada and Greenland as US territories. What the Fudge!!!
Consternation indeed!!! The America First Doctrine is kind of obvious. We'll always look out for our country first but his egregious disregard/hatred/resentment of other countries and ethnicities is unconscionable.
However, enough about the mercurial and unhinged presidents.
The point is, do not react to his every word and promise. Let the market instruct you how to trade moving forward. Watch the DXY, US10Y, US2Y, Gold and even Bitcoin(to gauge risk sentiment) like a hawk. That should be your guiding light, not all the nonsense coming out of Trump's mouth. Once it is in Congress and is about to become law, THAT is when you start worrying about whatever it is: invading other countries, taking away Civil Rights, shutting down the Press, blowing up our National Debt by another 8+ Trillion like the last time by providing tax cuts for the 1% and corporations, trying to rescind Obamacare, cutting Medicare and Social Security benefits to pay for his tax cuts for the rich, f****ing up our planet even more with more drilling etc. etc. Take your pick.
TECHNICAL: EUR/USD is starting to form an inverted head and shoulders with good support at 1.0260. The weekly RSI is above 30.
FUNDAMENTAL: The USD still has the upper hand but there are hairline cracks in our economy. PPI and CPI have ticked down a bit. The December retail sales print is concerning. Consumption is the engine of our economy.
EURO zone CPI has increased. So has German CPI. These are tiny green shoots. German PPI later tonight.
My tentative conclusion is that there is a possibility that neither Central Bank will cut rates at the end of the month. All we can do is keep our focus on all the daily developments from all quarters.
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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.