EURUSD: A quick update o change direction 1
Well a quick update on the situation of EURUSD.
On macro economic terms, market is taking prehentive position on the eve of ECB's decision to officialy lauch its QE next Friday.
On the other hand, market was expecting FED to increase its interest rate by summer which will not be the case because despite the inflation, if FED is raising its interest rate, no matter how small the raise is, EUR will plunge and US will loose some compepetitiveness.
Having said that, on a purely chartist approach, one could have thought of a Tenkan-Kijun Twist, but it was not the case. Although the Lagging span is in a very bizarre situation, there is no change of trend at short time, therefore, the trend remain 1EUR-1USD
On macro economic terms, market is taking prehentive position on the eve of ECB's decision to officialy lauch its QE next Friday.
On the other hand, market was expecting FED to increase its interest rate by summer which will not be the case because despite the inflation, if FED is raising its interest rate, no matter how small the raise is, EUR will plunge and US will loose some compepetitiveness.
Having said that, on a purely chartist approach, one could have thought of a Tenkan-Kijun Twist, but it was not the case. Although the Lagging span is in a very bizarre situation, there is no change of trend at short time, therefore, the trend remain 1EUR-1USD
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