ridethepig | EUR Spot Commentary 2020.02.14

14 Feb 2020

All 👀 on EUR with heavy sells mounting from some of the biggest sharks in the business. It’s difficult to find anything positive on the macro side in Europe at the moment, and notably I am getting an increasing amount of questions from clients with the same exhaustion. With German uncertainty, ECB emergency cuts making the rounds and when you look at positioning there is room for a leg in EURUSD towards the 1.07xx handle to close the gap from 🇫🇷 elections. Clearly a lot more unwinding to be done and after the fresh break lower and with the macro price drivers unlikely to change in the immediate term, I will look to short 1.0925 aiming for the 1.07 lows.