EUR/USD is trying to reclaim 50% of the 2002 - 2016 move. The price has recently broken a strong trendline from 2009 with 3 more touchpoints before breaking.
A break of 1.24 would indicate confirmation of a huge W in price with a target of 1.50 of the formation. It would also add confluence to the trendline break and price support for the EUR.
Considering USD's easy-money monetary policy and Biden's fiscal stimulus plans it looks like money printer go brrr has got legs and it's bearish for USD.
A break of 1.24 would indicate confirmation of a huge W in price with a target of 1.50 of the formation. It would also add confluence to the trendline break and price support for the EUR.
Considering USD's easy-money monetary policy and Biden's fiscal stimulus plans it looks like money printer go brrr has got legs and it's bearish for USD.