"One and Done" ... An update to EURUSD for FED
On the monetary side, Fed taking the spotlight so let’s start digging into the details…
Expecting the Fed to lower the “dots” signalling one hike in 2019 … a “one and done” approach. June seems unlikely now as the Fed has started to focus on inflation to keep equity markets happy.
My base case is for a hike in December meaning the dollar looks underpriced at current levels and with a lingering ECB easing risk premium EURUSD will start the leg lower after we clear Fed and PMIs.
From a technical standpoint we are sitting at strong resistance, any kneejerks higher (unlikely) will attract a lot of selling interest.
Best of luck all those trading Fed
Expecting the Fed to lower the “dots” signalling one hike in 2019 … a “one and done” approach. June seems unlikely now as the Fed has started to focus on inflation to keep equity markets happy.
My base case is for a hike in December meaning the dollar looks underpriced at current levels and with a lingering ECB easing risk premium EURUSD will start the leg lower after we clear Fed and PMIs.
From a technical standpoint we are sitting at strong resistance, any kneejerks higher (unlikely) will attract a lot of selling interest.
Best of luck all those trading Fed
Kommentera:
"EURUSD will start the leg lower after we clear Fed and PMIs." ... currently in play
Kommentera:
Reaching the final stages here for bears...
Trade stängt: målet nått:
First targets cleared on the test at 1.11183
