Good evening all, I hope everyone is well and 2020 sure does not stop to amaze with its new developments. There have been some fun moments on the markets over the last few weeks and I think, as always, its better to zoom out first to see what the heck is going on in the world and how might events impact the markets. We have had progressive easing of COVID-19...
Passing consolidation/pullback, we are in the 3rd impulse wave with positive momentum. The Aussie will continue to strengthen itself against the Greenback.
Following a progressive fall of Euro since April, we are drawing out a triangle. With coiling momentum on the stochastic with price action approaching resistance, I am willing to place a bet that the price motion will get deflected to continue painting out the triangle, possibly to at some stage exit the triangle on the downside. Don't hold your breath for the Euro.