📌 ridethepig | Euro for ECB
In some chart annotations, we have already covered the need for a pullback yesterday and to either use that to build the position centrally or lines aimed at mapping the flow for those covering on the pullback. The main point was to gain momentum for the slingshot after the 1.207x bids held.
> Global inflation is starting to show signs of creeping higher (see the explanation) so expecting Lagarde to be slightly bullish EUR on inflation, neutral on growth, no changes in rates and the usual 'watching the currency closely'.
The significance on the technical side is that buyers have situated themselves comfortably since Monday, as a basis for further operations, lies beyond all possible doubt. This is subtle and illustrates the deep relationship between the ECB and the dollar flank. A breach above the 1.216x highs now into sellers camp will trigger the capitulation towards our first target, play the momentum gambit when the opportunity arises.
Thanks as usual for keeping the feedback coming 👍 or 👎
In some chart annotations, we have already covered the need for a pullback yesterday and to either use that to build the position centrally or lines aimed at mapping the flow for those covering on the pullback. The main point was to gain momentum for the slingshot after the 1.207x bids held.
> Global inflation is starting to show signs of creeping higher (see the explanation) so expecting Lagarde to be slightly bullish EUR on inflation, neutral on growth, no changes in rates and the usual 'watching the currency closely'.
The significance on the technical side is that buyers have situated themselves comfortably since Monday, as a basis for further operations, lies beyond all possible doubt. This is subtle and illustrates the deep relationship between the ECB and the dollar flank. A breach above the 1.216x highs now into sellers camp will trigger the capitulation towards our first target, play the momentum gambit when the opportunity arises.
Thanks as usual for keeping the feedback coming 👍 or 👎
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A quick chart update here:
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....and we are attempting the break... let's see how it goes for the conference!
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Pivot holding so far but clearly sellers coming under some pressure
