ridethepig | EUR Market Commentary 2020.02.26
Here we go for another important NY session … EURUSD holding the 🔑 1.09xx test of resistance ahead of the open as expected. Markets notably anxious of further outbreaks which (sadly) seems unavoidable now.
I spotted a lot of euro supply from corporates this morning. Remaining short is perfectly reasonable assuming the current highs hold this PM, targets are located below 1.07.
For those in Fixed Income the picture is a lot easier to see as usual they are miles ahead of the retail FX crowd.
On EURUSD I am holding shorts from the initial 1.086x entry here for a leg towards the initial support at 1.077x. As long as the 1.09xx resistance is holding there is very little to see to the topside. The EUR weakness is a lot easier to see this morning in EURCHF, this 1.060x level is being defended by SNB:
In EQ things are a lot clearer as the waterfall is in play already for DAX, coronavirus has short-circuited the global reflationary theme that market where so happy to latch onto towards the back-end of 2019:
...good luck to all those riding the pig. As usual thanks for keeping your support coming with likes, comments and etc! Stay tuned for a well needed round of chart updates coming across most asset classes.
I spotted a lot of euro supply from corporates this morning. Remaining short is perfectly reasonable assuming the current highs hold this PM, targets are located below 1.07.
For those in Fixed Income the picture is a lot easier to see as usual they are miles ahead of the retail FX crowd.
On EURUSD I am holding shorts from the initial 1.086x entry here for a leg towards the initial support at 1.077x. As long as the 1.09xx resistance is holding there is very little to see to the topside. The EUR weakness is a lot easier to see this morning in EURCHF, this 1.060x level is being defended by SNB:
In EQ things are a lot clearer as the waterfall is in play already for DAX, coronavirus has short-circuited the global reflationary theme that market where so happy to latch onto towards the back-end of 2019:
...good luck to all those riding the pig. As usual thanks for keeping your support coming with likes, comments and etc! Stay tuned for a well needed round of chart updates coming across most asset classes.
Trade closed: stop reached:
1.092x STOP HIT ... A really difficult environment for EURUSD, once the highs were taken in Tokyo it was just a matter of when they would breach into the 1.09xx handle. Tracking the close today before launching the next chart.
