ridethepig | ECB Macro Flows
מעודכן
Here we go...Markets are not expecting a lot from the ECB fundamental front, rates will remain on hold with more focus on the hard macro data tomorrow. The only thing to 🔎today is for clues around duration of policy review.
On the technical side, jurisdictions are defined clearly on both sides as EUR is comfortably holding the 1.108/9x support. The initial targets are located at 1.125x resistance while stops can be kept comfortably below 1.103x. My feeling is that macro players betting on the topside are itching to get going as the board is setup in favour of EUR. Happy to hold longs for now.
In the Long-Term chart (see diagram below) buyers have broken out of the resistance channel; amongst other effects, this reduced the sellers in EURUSD to become a prisoner in their own camp. The main function of the breakout appears to be as a competent bi-product in the USD devaluation / 2020 reflationary theme.
The technicals for the long term are striving to reach 1.21xx and beyond. But the concept of "attacker" goes much further. You can also defend areas (for example the 1.108/9x today in ECB) or defend yourself against a breakout:
Buyers are securing a wide stretch of the swing territory. This could be considered as gaining momentum with green shoots appearing in Europe already. This means that macro recovery will be used as weapon of force:
Good luck all those in EURUSD, and trading ECB today. We can open the short-term flows if there is enough interest in the comments.. as usual thanks for keeping the support coming with likes, comments and etc!
On the technical side, jurisdictions are defined clearly on both sides as EUR is comfortably holding the 1.108/9x support. The initial targets are located at 1.125x resistance while stops can be kept comfortably below 1.103x. My feeling is that macro players betting on the topside are itching to get going as the board is setup in favour of EUR. Happy to hold longs for now.
In the Long-Term chart (see diagram below) buyers have broken out of the resistance channel; amongst other effects, this reduced the sellers in EURUSD to become a prisoner in their own camp. The main function of the breakout appears to be as a competent bi-product in the USD devaluation / 2020 reflationary theme.
The technicals for the long term are striving to reach 1.21xx and beyond. But the concept of "attacker" goes much further. You can also defend areas (for example the 1.108/9x today in ECB) or defend yourself against a breakout:
Buyers are securing a wide stretch of the swing territory. This could be considered as gaining momentum with green shoots appearing in Europe already. This means that macro recovery will be used as weapon of force:
Good luck all those in EURUSD, and trading ECB today. We can open the short-term flows if there is enough interest in the comments.. as usual thanks for keeping the support coming with likes, comments and etc!
הערה
Late updates here after a week ban...Well done those that caught the cheap loading zone, a monster move in the making? Smells like it.עסקה פעילה
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