ridethepig

ridethepig | ECB Market Commentary 2020.10.29

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FOREXCOM:EURUSD   Euro / U.S. Dollar
📌 EURUSD Market Commentary 2020.10.29

At a time when Lagarde ought to play the “leading” role, something similar to the pacemaker in the Tour de France, and not kick the can with PEPP while reading newspapers about what has happened from her home. I am personally expecting nothingness from the ECB and instead to tee up more QE in December which will be continuation of the bearish euro story.


Whether we like it or not the expectations were already stacked towards one side for a muted ECB today kicking the can till December. My sense is that with lockdowns, U.S elections and Brexit hurdles still to clear, waves of supply will keep coming and the pending test of 1.153x is still the most likely outcome. Short-term looking to take the rest of my shorts off at 1.160x, while Medium-term I prefer to be long the single currency and will look to load from cheaper levels in the 1.15/1.14 range.

Thanks as usual for keeping the feedback coming 👍 or 👎
Trade closed: target reached: TP2 ✅

Comments

how an accurate prediction! waiting...
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Investors feeling bad and and converting stock to cash even don't like to trust in Gold this time even don't care about interest rate too , Cash is their hope even in inflation
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Thanks for sharing!
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covid 19 is destroying economy!! i will not surprise euro cam down 1.08!!
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Nice ideas and comments. Thanks for sharing.
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Thank you
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Really Couldnt agree more Perfect Analysis 🙏🏻
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