I don't see the Euro inverting anything.
Still, good to keep an eye on this however.
Ultimately, there is still a US$ shortage globally and countries that have sold sovereign debt in US$ will need to start hoarding US$ in great quantities again. The recent spurt in the equity markets have temporarily relieved the need for cash Dollars. I do not believe this will last even if the equity markets should carry on rising.
The technical levels are very clear. I think we have till the US election for a resumption in the main trend
Still, good to keep an eye on this however.
Ultimately, there is still a US$ shortage globally and countries that have sold sovereign debt in US$ will need to start hoarding US$ in great quantities again. The recent spurt in the equity markets have temporarily relieved the need for cash Dollars. I do not believe this will last even if the equity markets should carry on rising.
The technical levels are very clear. I think we have till the US election for a resumption in the main trend
Trade active
So far so good
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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.