All right. After a thorough long-term view, the goal after this bottom is 1.1. The small detail is that I'm talking about Binance, because only there a month ago the price reached 1.2 even for a short time. So 1.07,1.09,1.1. Of course pyramidally and not all at once. I'm on the ship.
i agree with mr. cuni. dollar strength is currently speculative and over-extended even with the recent FOMC release .75 bp hike. In the meantime, ECBa d hoc meeting yesterday + confirmed rate hike next month mostly probably will kick-in in advance. so prices to go up to retest 1.1076 is highly likely with the support forming a beautiful double bottom at the historical monthly support. cot data suggest as well for non-commercial participants building up long positions and closing short and nearly at Feb 2022 levels. But the wave is still bearish for eur/usd to keep in mind. Good noise for DXY to consolidate so as the EUR with FOMC and market expectations weighing in on forwarding guidance and evaluate decisions meeting per meeting (according to papa powell).
KlejdiCuni
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@jcgarciasigma, I like the papa, Powell...he is really making a big mess on all markets
jcgarciasigma
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@KlejdiCuni, most definitely. He's a perfect match for Yellen - that for saying "oops, sorry we are wrong on the projections...". kudos. Thanks for the analysis/ideas sir.
After a thorough long-term view, the goal after this bottom is 1.1.
The small detail is that I'm talking about Binance, because only there a month ago the price reached 1.2 even for a short time.
So 1.07,1.09,1.1.
Of course pyramidally and not all at once.
I'm on the ship.