Euro to Crash
We're still anticipating one more low for the Euro against the Dollar. As you can see the move down in the last few weeks has been 5 minute waves down to make a minor wave 1. We moved quite sharply up last week in what looks to be a blowoff top to finish the minor wave 2 and we anticipate a very sharp move down over the coming weeks to complete a minor wave 3 taking us back towards parity. shorting from current prices should provide a very nice return over the coming weeks and months. It seems traders have become overly bullish on Europe and this is likely about to change, with Credit Suisse and now likely Deustche Bank about to go over the edge as well, the European banking system isn't as strong as the ECB will have you believe and with Putin making moves to escalate the war in Ukraine further still by moving tactical nuclear weapons into Belarus the sentiment might be about to change. In addition to this we are forecasting that the US economy will continue to show more strength than the EU's and inflation looks to be on the rise again globaly, the Fed will likely continue on their path of rate hikes or at least maintaining the 'higher for longer policy'. All of this leads us to believe shorting the Euro will turn out highly lucrative in the weeks to come.
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.