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  • All Aboard The USD Bear Trend

    From globalprime.com.au

    The JPY and the Euro were the major beneficiaries from the crossfire of vol so badly needed in the Forex market. On the flip side, a battered USD, courtesy of a surprisingly dovish Fed, alongside a hammered GBP, were by a country mile the two clear outperformers, especially the USD. Putting on a very solid performance we find the Oceanic currencies, the Australian Dollar and the New Zealand Dollar, which not only found ample amounts of demand but follow up buying was noted following the releases of the Australian jobs report and the New Zealand's GDP figures. Backpedaling its recent strength from earlier in the week ... (full story)

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Still, holding the EUR against the USD is complete nonsense.

I get almost -50 pips swap points for one-month forward Long EURUSD.

I hardly see any medium/long term USD bear trend. For this to happen ECB needs to change monetary stance and the rest of CBs as well. Otherwise, it looks like temporary calibration, maybe to 1.15/1.16 maximum.
Quoting JakubSzalaFX
Still, holding the EUR against the USD is complete nonsense. I get almost -50 pips swap points for one-month forward Long EURUSD. I hardly see any medium/long term USD bear trend. For this to happen ECB needs to change monetary stance and the rest of CBs as well. Otherwise, it looks like temporary calibration, maybe to 1.15/1.16 maximum.
You should check monthly on EU, next friday will be important, with the monthly close. But the chart can easily do to bears what 1.25 did to bulls...it won't be pretty to stubborn bears.
Quoting OnlineAddict
{quote} You should check monthly on EU, next friday will be important, with the monthly close. But the chart can easily do to bears what 1.25 did to bulls...it won't be pretty to stubborn bears.
Regarding monthly, I would consider opening buy on E/U if the monthly bar closes in green.
Can't see any clean break downwards for USD.
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  • Posted: Mar 21, 2019 3:22am
  • Submitted by:
     GlobalPrime
    Category: Technical Analysis
    Comments: 5  /  Views: 2,084