ridethepig | EUR Market Commentary 2019.12.18

Very little to update on EUR with flows on both sides clashing and causing minor chop inside the 1.11xx handle. Better numbers than expected from Germany this morning providing a gift for those adding on dips.

A quick review of the two positions we have traded live so far with the infamous "worm in the apple". A quick review of these charts:

As long as support at 1.110x holds I remain bullish looking for a break of 1.12xx to kill the year in FX markets. This will leave us in a very handsome position for the 2020 macro map:

Good luck all those buying EUR dips... Thanks for keeping the support coming!

Comment:

Expecting NY to hold 1.110x

Comment:

1.110x holding again today as expected

Comment:

Liquidity dried up before we could compete the target via momentum... stops were always too tight to hold chop.