An update to the EURUSD chart after a retrace from ECB
The latest rebound from the bottom of the channel has given a soft recovery. We are approaching key resistance areas and for those who are bearish on the USD you will need a constructive break above 1.13 to show anything meaningful in this recovery.
I don't subscribe to the view that we have seen the highs in Dollar and expect these flows to continue well into the summer 2019. I am positioned as most of you already know for 1.09 and even 1.06/1.05 if we see maximum pain with a no-deal Brexit.
For those who are trading the longer-term perspective, I would encourage you to view the monthly chart attached, this is a view I have maintained since last year and still expect a higher low to develop over the 1.03 lows from 2017. This will mark a very interesting buying opportunity, as the noise of a European collapse will have reached maximum volume and most will be screaming for a break of parity. Nevertheless, we will be talking more about this in a few months.
All the best to those who are trading live.
I don't subscribe to the view that we have seen the highs in Dollar and expect these flows to continue well into the summer 2019. I am positioned as most of you already know for 1.09 and even 1.06/1.05 if we see maximum pain with a no-deal Brexit.
For those who are trading the longer-term perspective, I would encourage you to view the monthly chart attached, this is a view I have maintained since last year and still expect a higher low to develop over the 1.03 lows from 2017. This will mark a very interesting buying opportunity, as the noise of a European collapse will have reached maximum volume and most will be screaming for a break of parity. Nevertheless, we will be talking more about this in a few months.
All the best to those who are trading live.
