Why I Prefer EURUSD Long Now.

7 nov. 2024

EURUSD is showing some rejection post election and USD strength as a result of Trumps win. Trumps inflationary effect is what gives a boost to the USD as it is less likely rates will fall from the FED quickly.

Similarly, there is still a case for long side inflows into the EURO, particularly if key data shortly encourages it further. A stronger rebound of the EU economy is causing a hold on rate reducing as it is less necessary.

Would not be wholly surprised if a rebound occurs. Take note of the continued sideways movement long term that could easily persist as there is no real favourability of the USD over the EURO.

Long side entries favourable and taken for swing moves. Will reflect on price action as the move progresses and goes through key FIBs/Price action levels higher.

Interesting to keep an eye on the sentiment case, but so far, does not reflect ultra USD strength VS the EURO.

7 nov. 2024

Note

Some gains taken on slight fall. Re-buying.