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  • Here's why the euro looks cheap ahead of Thursday’s ECB meeting

    From marketwatch.com

    The euro has sold-off lately and is trading around its lowest level since mid-January against the U.S. dollar on Wednesday. But this is rendering it undervalued ahead of the European Central Bank’s policy update on Thursday, according to Scotiabank strategists Shaun Osborne and Eric Theoret. Rising government bond yields TMUBMUSD10Y, +0.88% in the U.S. lent support to the dollar DXY, +0.45% and market expectations for interest-rate hikes by the Federal Reserve still hover around three to four raises this year, compared with only three guided to by the U.S. central bank. Last year, investors were arguably more ... (full story)

and it will look cheaper after tomorrow... unless someone tweets something :-)
Quoting Abouelzelouf
and it will look cheaper after tomorrow... unless someone tweets something :-)
it will be cheaper after tomorrow regardless of tweet or not!
Quoting Manudatinh
{quote} it will be cheaper after tomorrow regardless of tweet or not!
You wanna bet? Euro is bottoming before ECB and you are selling? You must be new to the game.
Everyone can see the chart, but only a few can actually read it.
Quoting OnlineAddict
{quote} You wanna bet? Euro is bottoming before ECB and you are selling? You must be new to the game.
yes in my opinion 'stealth taper' people should read ZH at least a bit regularly I don't think the above article mentions this; don't know; just barely skimmed it https://www.zerohedge.com/news/2018-04-25/how-ecb-launched-stealth-cspp-taper
Quoting Greenstar
{quote} yes in my opinion 'stealth taper' people should read ZH at least a bit regularly I don't think the above article mentions this; don't know; just barely skimmed it https://www.zerohedge.com/news/2018-...lth-cspp-taper
Stuff like this doesn't matter...fundamentals mean nothing in day trading. The only thing that matters is where the big guys buy and sell and if they buy euro, Draghi could say he wants it down, it would still go up. There is no point to even listen to the conference or read articles...everything is written in the chart patterns that lead up to the conference, then the big guys use the heave traffic to reach their targets. Trading is very simple, if you forget about all distractions. #1 is chart...there is no #2.
Everyone can see the chart, but only a few can actually read it.
Cheap for who?

I wouldn't be investing any money into the European cesspit.
Its open door policy is a disaster and soon the workers will be sick and tired of supporting these welfare groups.
Euro is well overvalued and to be competitive it needs to be near 1.00 vs dollar.

Australia is looking for a trade deal with the EU but since the EU subsidies the inefficient farmers whats the benefit for Australia ? I would say nothing .
... @The euro has sold-off lately ... it's not the Euro , it's Draghi who sold off the Euro helping his mates from the FED ... The Dollar is the only and very profitable product that the FED can sell globally, but the show must go on deceiving the world.
Fundamental are all but priced in now for the EUR. The EUR went on over a 1000 pip rally last year on a hint of stimulus reduction. Inflation is no where near target for reduction at the moment and more than likely not going to happen this year. There also seems to be no concern over Italy and its political problems (anti EU sentiment) even though its the 3rd largest economy in the EU (excluding the UK). Im sure Draghi is going to hint that stimulus may need to carry on a bit longer, however, they heading in the right direction (The same usual BS). If 1.2200 holds as resistance today, we may see a sell off down to at least 1.1900 over the next few weeks.
Quoting OnlineAddict
{quote} Stuff like this doesn't matter...fundamentals mean nothing in day trading. The only thing that matters is where the big guys buy and sell and if they buy euro, Draghi could say he wants it down, it would still go up. There is no point to even listen to the conference or read articles...everything is written in the chart patterns that lead up to the conference, then the big guys use the heave traffic to reach their targets. Trading is very simple, if you forget about all distractions. #1 is chart...there is no #2.
I agree with you about the fundamentals meaning crap. In the next week the ONLY reason for Euro to go up is dead cat bounce. On the daily charts it broke 1.2230 which was the bottom of the trading range that its' been in since January 1.2230=1.2490. Next stop down is 1.2080 the 1.1980. If it closes above 1.2230 and stays ......back to range. But I'm betting lower.
...because you never know - until you do!
Quoting fxsport
{quote} I agree with you about the fundamentals meaning crap. In the next week the ONLY reason for Euro to go up is dead cat bounce
Possibly...waiting for that.
Everyone can see the chart, but only a few can actually read it.
Quoting OnlineAddict
{quote} You wanna bet? Euro is bottoming before ECB and you are selling? You must be new to the game.
Who's is new to the game? I HOPE you didn't go long EUR then! LOL
...because you never know - until you do!
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