First, let's start by saying that any ideas expressed here should not be taken as trading advice.
Fundamentally, three things I want to highlight here:
1. Significant monetary policy still needed to spur inflation for the eurozone economy
2. Talks of more interest rate hike for U.S.
3. EU and Italy budget drama continues
Technically speaking, the gap will eventually get filled. On the Elliott wave perspective, we should see EURUSD consolidate into wave 4 for several weeks. Also we're approaching major uptrend line, when it does break below it we could see it drop further to 106x.
Good luck folks, and happy trading!
Cheers!
Fundamentally, three things I want to highlight here:
1. Significant monetary policy still needed to spur inflation for the eurozone economy
2. Talks of more interest rate hike for U.S.
3. EU and Italy budget drama continues
Technically speaking, the gap will eventually get filled. On the Elliott wave perspective, we should see EURUSD consolidate into wave 4 for several weeks. Also we're approaching major uptrend line, when it does break below it we could see it drop further to 106x.
Good luck folks, and happy trading!
Cheers!
Comment:
Forgot to add 'stimulus'...
Comment:
Update:
Trade closed: target reached