Trying an additional short-term long here at 1.1262, SL 1.1252, TP around 1.1380 to see if a rejection or break happens. EDIT: SL now set to BE image

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Just saw your post - thanks for the discussion - but I disagree. On what basis would parity be fair? The USD has been gradually losing purchasing power over the last years due to higher inflation. The fair value would be around 1.45. If we went to ...

EURUSD only

From my point of view the overal picture depends on whether it can manage to close above the 1.1380 region next week. If it gets rejected it looks bearish, if it manages to pass on the weekly close it looks ultra bullish for at least 3 more cents.

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If this turns around here a rising wedge breakout to the downside might follow. If it breaks to the topside it looks all bullish from my view.

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What a surprise that the rebound happens on a global risk-off day?! I mean technically 1.12 looked fine, but I would have thought that such a risk-off day would defy technical aspects. If this were to persist it would mean that the USD lost its safe ...

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Yes true. The US tech companies are gold and also the fact that commodities are traded in USD. This is probably one aspect that makes it attractive to hold USD. But in the end I think it is decisive that the USD boils down to be a safe haven with ...

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This would be so sad from a fundamental point of view. How can the shitty dollar be so strong with sleepy Joe printing money like no tomorrow and inflation running rogue.

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From my point of view my the sellof looks finished in the long perspective as we reached 1.12 (see graphic of the quote above). There could be some more final stop-loss hunting below 1.12, but generally I would expect a bottom here.

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This is a great statistic, do you have a link for this?

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source?

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Euro is the best. Wait until the United States of Europe emerge (just another century probably).

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12:53 MERKEL SAYS GERMAN COVID SITUATION WORSE THAN ANYTHING SO FAR Merkel just cannot shut up and has to spread her German angst. How often does she want to keep reiterating how bad it will be, dragging the euro down. ...

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Core inflation in the eurozone is at 2% vs. 4.6% in the US, and base effects will start kicking in as of December. So there is no significant inflation pressure in the eurozone.

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Well, this is probably the wrong forum, but it was a safe haven move. Europe looks fragile with lockdowns discussed again in Germany and equities are elevated, so there is a chance of equities going into a correction, hence safe havens liks USD, JPY ...

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Rising Wedge on H4, so I suspect another bear attack looming.

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@Ata - just out of curiosity - would you also have bought during the last days if you had not been long already? Or does a preexisting position prevent you from trading the direction you would otherwise have traded? Why was this not a rinse and ...

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And retail positioning just won't normalize, according to these statistics retail investors keep flocking into longs. But at some point they have to win, won't they???

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Haha, thanks mate, also great to see your posts back here! To be honest all this economic reasoning does oftentimes not bring much forecasting power for the short-term. One can always argue both ways and in the end positioning seems to be decisive. ...

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In DXY a reversal would look promising if the week closed below 95.40.

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Just saw that actually 1.15 is also a sweet spot (dotted lines). So there is a remaining possibility that this month closes above 1.15, which would the intramonth move make this a fake breakout from the 1.15 very long term supports.

EURUSD only