Disliked{quote} Time will tell. The EU cannot, I repeat, cannot afford a very expensive Euro. The survival of the economy there depends on the real price of the Euro and not the charts. Look at gold and get the idea. Money is fleeing from metals in this dangerous times and running to cash. And no, we cannot wish away the safe haven status of the USD. I don't have a trade on EURUSD, as the British equivalent of it is behaving well and vomiting the pips for me everyday. As for a low below 1050, time will tell.Ignored
"Eu cannot afford an expensive Euro". Just think about it, can the US afford an expensive Dollar? Does Trump or the Fed want an expensive Dollar?. Battle of the wits. It is a cruel world out there. Every country will fight for its own survival and do whatever it takes to better its economy. After all that is what presidents, the european block, the Fed or any Tom Dick and Harry across the world, will do.
As far as the Dollar, a safe haven currency. Well look at whats happening with Covid-19. The Us economy is affected as well as European countries. Crumbs, Africa will start shut downs and here in SA we are sitting with 61 cases at the time of writing. Schools and businesses are closing. It is just a start and Africa could be the worst affected Continent in time with its infra structure. We shall see. Anyway no need for panic.
The markets will play out in cycles as it always has done. I stick with that.
All the best Bud.
Cheers.
Trade to trade another day
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