Powell capitulating and surprising markets with a rate cut which helped euro crack the 1.12 handle.
After a nice pullback we are right back to the starting point in time for the NY session. The drivers remain the same for now, (i) bearish on risk via virus impact, while (ii) bullish on risk via Sanders fading into the distance provides the pullbacks.
The euro has covered an impressive amount distance in a short period of time and as US cases begin to tick higher it will certainly push EURUSD higher. I am buying 1.110x on the day for a 1.124x target and remaining nimble around virus uncertainty.
As usual thanks for keeping the likes and comments coming! Jump in with any questions or charts below!