EUR ticking higher for the open as liquidity returns from the holiday period. On the whole I am happy with how the euro has held, while we discussed yesterday macro hands betting on the reflation theme are hardly moonwalking but we are making progress nonetheless.
Continue to buy dips here, I am becoming increasingly aggressive with sizings, however certainly aware that 1.12xx is proving difficult. A sustained failure to break here will see us retrace towards the lower end of 1.11xx otherwise its business as usual with the initial target at 1.125 (see below diagram).
Additionally, we can comfortably lean on the macro charts over the coming months as we see the green shoots reappearing in Europe:
Those mid and long term plays can continue to eventually target 1.21xx and 1.25xx in macro portfolios with most the hard work to begin the move largely complete:
While the Weekly technicals are much clearer:
Good luck to those trading EURUSD in 2020 and already in longs or for those waiting patiently on the sidelines for the momentum break to form.
As usual thanks so much for keeping your support coming with likes and jumping into the comments!
Continue to buy dips here, I am becoming increasingly aggressive with sizings, however certainly aware that 1.12xx is proving difficult. A sustained failure to break here will see us retrace towards the lower end of 1.11xx otherwise its business as usual with the initial target at 1.125 (see below diagram).
Additionally, we can comfortably lean on the macro charts over the coming months as we see the green shoots reappearing in Europe:
Those mid and long term plays can continue to eventually target 1.21xx and 1.25xx in macro portfolios with most the hard work to begin the move largely complete:
While the Weekly technicals are much clearer:
Good luck to those trading EURUSD in 2020 and already in longs or for those waiting patiently on the sidelines for the momentum break to form.
As usual thanks so much for keeping your support coming with likes and jumping into the comments!
