EURUSD exploding to the topside as USD comes under further pressure from domestic issues. While I am bullish on the euro more broadly, these latest moves are starting to look stretched above 1.12xx given all the cards that are on the table.
Well done all bulls riding what has been so fat a very fast move; we are coming to the end of this initial ‘expectation leg’ around debt mutualisation of the block. Official confirmation coming later today will mark an end of this chapter and unlock a quick pullback for the next ‘fact’ leg which should be bought. On the technical side, tracking closely the 1.104x support as the next loading zone for bulls looking to ride the swings towards 1.15 and 1.20.
🔑 Remember markets trade expectations first and then facts later.
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Insane moves keep coming from Europe... we might be able to complete the highs with NFP
Hello ridethepig👋, am curious to know about the EU member countries with no euro currency like Czech republic and Poland. They look to weaken significantly long term vs the euro and even vs the pound. Thoughts?
ridethepig
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Hey @Danny_boy ... sorry for the delayed response.
ridethepig
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@ridethepig, I like playing EURCZK shorts and 26 looks within reach.
On the PLN side... think those -ve real yields will weigh heavy, better to play CZK or even HUF.