UPDATE: EURUSD target is set to 1.203, expect weakness there
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Komen:
Komen:
I believe there are a lot of answers in terms of timing within the charts of Soft Commodities, especially soybeans. They are suggesting more weakness ahead and in tandem with that our bullish pattern on EURUSD has changed to a more corrective pattern. We have to take this seriously.
The bullish case for Euro will kick in once the trade war ends hopefully later this year when both regions cripple their own economies. A convergent monetary policy is highly likely with growth rates in the EU growing faster than the US.
For now, the target has changed to 1.203 which should deliver a 4.45% return before we head lower.
The bullish case for Euro will kick in once the trade war ends hopefully later this year when both regions cripple their own economies. A convergent monetary policy is highly likely with growth rates in the EU growing faster than the US.
For now, the target has changed to 1.203 which should deliver a 4.45% return before we head lower.
