One Final pullback before a vicious fall

TVC:DXY   U.S. Dollar Currency Index
We saw that Trump and Xi in Ping have agreed on a truce with regards to Trade war. I think based on this, we are going to see a massive DXY liquidation after a good pump. This is just a hypothesis as we could see some serious rally starting in equities with gold being back at levels missed for those who didn't long.. my desired levels would be 1350/60.. ultimate breakout area.

Back to back, we are seeing better data and a slight change (optimism) in economic trends in Europe when it comes to German industrial orders, HICP, and CPI of the overall Eurozone. I think this will cause ECB to change their language of a rate cut and besides that, we also have a transition of a new ECB President which will be decided on the 30th of June. Jens Weidmann is considered to be a top pick and favorite and he is also hawkish. This is the most difficult decision to make whether to Long / SHort Euro as we also have major Geopolitical news with regards to trade war.. i.e. DXY positive. Hence, with respect to this, I would expect, the real buying in Euro will happen not before ECB day which is on 25th July.

Apart from that, technically, we have to see some corrections in AU, GU, and NU after experiencing a decent rally. Therefore, cross currencies would be the best play here where we could short EURNZD and EURAUD on the pullback.


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