Hello everyone,
I hope all is well and wishing you a great trading week. So far i don't see any reason for the Euro to be bullish even though there was a hike. Most got caught by this last move down and i think it shows that the market thinks ECB is done and that was the last hike even though some members suggested this is not a dovish hike.
Economy in the Euro area does not look that great and manufacturing prints are getting worse. I think fair value would be arond 1.05 area and then we can look for longs. We'll see how price action develops and if we get past the May low everything will go down with it. The dollar king is still alive and kicking
Have a good one!
I hope all is well and wishing you a great trading week. So far i don't see any reason for the Euro to be bullish even though there was a hike. Most got caught by this last move down and i think it shows that the market thinks ECB is done and that was the last hike even though some members suggested this is not a dovish hike.
Economy in the Euro area does not look that great and manufacturing prints are getting worse. I think fair value would be arond 1.05 area and then we can look for longs. We'll see how price action develops and if we get past the May low everything will go down with it. The dollar king is still alive and kicking
Have a good one!