Donald Trump wants to devaluate the US dollar.
From the South China Morning Post:
"The euro – which has dropped nearly 10 per cent against the dollar since early 2018 – is 22 per cent undervalued versus the greenback, according to a purchasing power parity measure of the Organisation for Economic Cooperation and Development.
The dollar itself is considered too strong: in the Bank of America Merrill Lynch’s latest fund manager survey, a record 60 per cent of respondents saw the greenback as overvalued."
Got my trading accounts in USD (and in XBT on my little Bitmex account :p). May be time to turn it to euro...
The euro downtrend got weaker and weaker and it is looking like a possible reversal and it is undervalued anyway.
I think it should go up in the long term. But I only think it would go up something like 10%, over a several months period. Not a huge deal.
I see at least a buy trade if we go visit that area. I do not think it is necessary to look for a bottoming chart pattern.
Stop loss can be set at 1.11 or a little below. Entry 1.11250 maybe.
Are we going to get Trump tweets to try to move the USD valuation like with the stock market?
From the South China Morning Post:
"The euro – which has dropped nearly 10 per cent against the dollar since early 2018 – is 22 per cent undervalued versus the greenback, according to a purchasing power parity measure of the Organisation for Economic Cooperation and Development.
The dollar itself is considered too strong: in the Bank of America Merrill Lynch’s latest fund manager survey, a record 60 per cent of respondents saw the greenback as overvalued."
Got my trading accounts in USD (and in XBT on my little Bitmex account :p). May be time to turn it to euro...
The euro downtrend got weaker and weaker and it is looking like a possible reversal and it is undervalued anyway.
I think it should go up in the long term. But I only think it would go up something like 10%, over a several months period. Not a huge deal.
I see at least a buy trade if we go visit that area. I do not think it is necessary to look for a bottoming chart pattern.
Stop loss can be set at 1.11 or a little below. Entry 1.11250 maybe.
Are we going to get Trump tweets to try to move the USD valuation like with the stock market?