ridethepig

MAJOR Reversal around the corner in EURUSD

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ridethepig 已更新   
FOREXCOM:EURUSD   欧元/美元
Here we are dissecting the moves in this second major wave for EURUSD. Those with a background in waves will know this as an ending diagonal, something we have been tracking for some time live on Tradingview. The flow is becoming very congested and choppy in nature, a perfect range trading environment (those following will know we have been trading the ranges flawlessly here the past few weeks) and is very classical for the final stages in ending diagonal flows for major waves.

On the macro side we have ECB to clear in June, details of TLTRO III will be announced and as a result I see no reason to change the view of 1.10 in the forecast in June. I keep the view of widening US deficits and the final stages of the business cycle will cause the dollar to peak this year. See related ideas from the archive for more details on DXY. Keep in mind the "timing" of this top in USD will have to come from the US side, those following the conversations from the live room know how re-rating overseas without the US is conspicuous to say the least.

Thanks for all the support with likes, comments and etc...keep them coming and feel free to open up the discussion in the comments...



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A similar setup for those tracking DXY

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