0.83 is the new target
I used to forecast EURUSD at 0.86, but now it feels more likely to drop below 0.83. We will possibly see the Euro below 0.7999 for a brief moment. If you look at the monthly chart, there is nothing to stop the sell-off between 1.03 and 0.83. So a quick dip below 0.83 and a false break below 0.8 is almost inevitable.
The root cause of such price action is the same as I mentioned earlier: the crash in Treasuries will cause a worldwide asset repricing. The Dollar (and the Yen) will be the sole survivors. Expect EURUSD below 0.83 and USDJPY below 100 at the same time.
And by the way, all of that is confirmed by the EURJPY chart where the crash below 92 looks just as obvious.
The root cause of such price action is the same as I mentioned earlier: the crash in Treasuries will cause a worldwide asset repricing. The Dollar (and the Yen) will be the sole survivors. Expect EURUSD below 0.83 and USDJPY below 100 at the same time.
And by the way, all of that is confirmed by the EURJPY chart where the crash below 92 looks just as obvious.
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