EURUSD Sep 7, 2020 - Banks trying to defend fiber bull mode?

Not legal and financial advice; any information provided here is only the personal opinion of the author.
Cheers!

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From trading perspectives it is Labour Day in the United States and Canada, so trading activity today shud be on the low side and imho we do not expect any sharp moves?
Also ECB policy meeting only on Thursday and market will be closely watching any statement by ECB President Lagarde about eur. We see already multiply talks from other ECB officials, so we can expect it from the main person also. That puts some support for EUR bulls to buy on dips till Wednesday.
In fact ECB in wait and see mode and no sharp moves is expected.
I do not like idea to buy eur at any levels, due to highly over crowed longs. Unwind of this positions cud be fast and furious. Beware of hair cut and expect the unexpected my personal attitude atm.
Take care! Cheers!

コメント:

Also people point out that equity selloff has had little impact on the FX market.
I doubt that it was stocks leading theme, we can argue that it was DXY leading move and stocks followed it.
Every first sharp dip in stocks market always buyout, but the main test will be in near future and it is closely than many analytics expect now. If we count it as impulse, then second dips and others will be very hard to buyout already. The story to watch about today is Softbank, cud be a dark swan story for stonks market.

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