Disliked... On ECB Side, despite covid19 news, there is not a lot to expect, ECB has runned out of ammo ; at last two meetings, their call for fiscal stimulus was unanimous. 2 weeks ago, EZ finance ministers agreed fiscal expansion if things get worse on macro front. => Fiscal stimulus in EZ would be Euro positive & Obviously Fed Cut expectations will give EURUSD a double boost. The only problem is current risk off environment triggered by this week-end covid19 news. EURUSD has to digest, first, current risk off flows fueling USD.Ignored
I guess they are keeping ammo (they have a lot via budget surplus) for later, once they have a better gauje of covid19 impact on their export economy
DislikedST Map I have in EURUSD : As it stands : -> 1.0866 and 1.091x are nearest resistances -> If price takes back 1.092x, we will have a ST Bottom confirmed. {image}Ignored
Monthly close is going to be very interesting to gauje market sentiment in EURUSD. There is a possible break down on M1 (1.0879). In short, it's Risk flows Vs FED expectations flows/EZ fiscal stimulus expectations flows. Losing 1.0879 on M1 will mean Risk has the upper hand and chances will be very high price visit the 2017 LT Bottom area discussed the other day :
DislikedEURUSD No swing to call yet but a quick look at 2017 LT Bottom structure : {image}Ignored