ridethepig | EUR Market Commentary 2019.11.27
Updated
With Trump Administration desperately attempting to add momentum to the $ downside via another Fed cut and pressure on ECB, combined with a convergence in US-EU differentials will lead to a long-term rebound in EUR. I am expecting volatility to expand into year-end after completing the 76.4% retracement.
For those tracking the USD long-term chart from last month:
From a waves perspective a very important year on the macro front which opened up the major monthly reversal targets:
Initial monthly targets: 1.15
Long-term monthly targets: 1.20
Best of luck all those tracking EUR as we enter the final few pages in the year, and importantly, thanks all for keeping the likes and support coming.
For those tracking the USD long-term chart from last month:
From a waves perspective a very important year on the macro front which opened up the major monthly reversal targets:
Initial monthly targets: 1.15
Long-term monthly targets: 1.20
Best of luck all those tracking EUR as we enter the final few pages in the year, and importantly, thanks all for keeping the likes and support coming.
Comment
A very bullish monthly close cooking, we will update this chart in a few days.
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