For 2017,
EURUSD
, has been on a steady climb and it is becoming apparent that a test of the 2016 high has been the mission all along. Even with the Brexit situation, change in admin in the U.S., a very dovish tone from Draghi (ECB), and the whole 9 yards this pair has been resilient in , and I do say so myself, the wrong direction. Not one person in the world can explain the rise in Euro against the Dollar if you laid out all the data and political facts to study.
Nevertheless I will indulge you. We would only have to point at the change in admin in the U.S. as the elephant. They seem to not be able to accomplish what they set out to accomplish in a uncharted but charted way. First, Trump never laid out any details regarding the healthcare situation just screamed bloody murder and pointed fingers. So when "his" healthcare plan came to, it was removed/fell off the high horse and was trampled on by people who wouldn't sign or approve anything without knowing the ins and outs respectively. In the same breath I would see that as sign of strength as healthcare is a part of the fabric of the United States, courtesy of the Industrial Revolution via Unions and not to mention the Constitution, which should translate to USD strength after a reasonable pullback so let's add another angle.
After the initial healthcare debacle the president made a statement relative to the situation and added that he would not just move on to taxes as his tax plan would work best only after healthcare law had been put in place. Now I AM NOT A POLITICIAN OR TAX ATTORNEY but that is weird considering the tax law wouldn't take immediate effect and even if it did you would probably be creating more jobs to deal with the transition and maintenance so why not go for it and swiftly swing back around on healthcare? Nonetheless, understandably, the market priced in the delay.
That leads to the final point I care to type about which is the new admin vs the FED dynamic. Let me start by declaring nobody understands Yellen's thought process so you mix that with the president sending mixed signals relative to the head of the FED, on the final term year of the FED head, about the future of the FED head. It's hard to imagine the volatility not being removed from the market on any FED decision. With that sentiment lingering i.e. buy the rumor sell the news became sell the rumor buy the news.
With all that said it is still mind bending to see,
EURUSD
, up 1000+ pips from the low of 2017. The
DXY
gets stronger and
EURUSD
goes in the wrong direction. Euro Bulls are looking for Greenback Bulls to take the reign so they can hibernate again. Where are the Dollar Bulls? #FFT
EURUSD
, has been on a steady climb and it is becoming apparent that a test of the 2016 high has been the mission all along. Even with the Brexit situation, change in admin in the U.S., a very dovish tone from Draghi (ECB), and the whole 9 yards this pair has been resilient in , and I do say so myself, the wrong direction. Not one person in the world can explain the rise in Euro against the Dollar if you laid out all the data and political facts to study. Nevertheless I will indulge you. We would only have to point at the change in admin in the U.S. as the elephant. They seem to not be able to accomplish what they set out to accomplish in a uncharted but charted way. First, Trump never laid out any details regarding the healthcare situation just screamed bloody murder and pointed fingers. So when "his" healthcare plan came to, it was removed/fell off the high horse and was trampled on by people who wouldn't sign or approve anything without knowing the ins and outs respectively. In the same breath I would see that as sign of strength as healthcare is a part of the fabric of the United States, courtesy of the Industrial Revolution via Unions and not to mention the Constitution, which should translate to USD strength after a reasonable pullback so let's add another angle.
After the initial healthcare debacle the president made a statement relative to the situation and added that he would not just move on to taxes as his tax plan would work best only after healthcare law had been put in place. Now I AM NOT A POLITICIAN OR TAX ATTORNEY but that is weird considering the tax law wouldn't take immediate effect and even if it did you would probably be creating more jobs to deal with the transition and maintenance so why not go for it and swiftly swing back around on healthcare? Nonetheless, understandably, the market priced in the delay.
That leads to the final point I care to type about which is the new admin vs the FED dynamic. Let me start by declaring nobody understands Yellen's thought process so you mix that with the president sending mixed signals relative to the head of the FED, on the final term year of the FED head, about the future of the FED head. It's hard to imagine the volatility not being removed from the market on any FED decision. With that sentiment lingering i.e. buy the rumor sell the news became sell the rumor buy the news.
With all that said it is still mind bending to see,
EURUSD
, up 1000+ pips from the low of 2017. The
DXY
gets stronger and
EURUSD
goes in the wrong direction. Euro Bulls are looking for Greenback Bulls to take the reign so they can hibernate again. Where are the Dollar Bulls? #FFT
评论:
评论:
We have come to a triple top in the form of a H&S Pattern.
评论:
评论:
Upside bias has slowed, a break and close below 1.1877 medium term officially breaks the current trend.
