EUR/USD Uncertainty
As you can probably tell from the above, I’m not very bullish around the Euro or the Euro-zone in general. The bigger question I have at the moment is one of timing. And given that we’re in the summer months combined with Jackson Hole the week after next and the next FOMC meeting more than a month away, we may be in a space where the dominant trend can continue to take a break. The one factor that could change that is the same that popped-up in early-August, when Fed-speak continually drove home that the Fed wasn’t yet nearing a pivot.
From the four-hour chart below, we can see support showing at prior resistance after the fresh higher-high. This can keep the door open for a further bullish push, looking for a re-test around 1.0340 after which the 1.0400 level comes into view.
As you can probably tell from the above, I’m not very bullish around the Euro or the Euro-zone in general. The bigger question I have at the moment is one of timing. And given that we’re in the summer months combined with Jackson Hole the week after next and the next FOMC meeting more than a month away, we may be in a space where the dominant trend can continue to take a break. The one factor that could change that is the same that popped-up in early-August, when Fed-speak continually drove home that the Fed wasn’t yet nearing a pivot.
From the four-hour chart below, we can see support showing at prior resistance after the fresh higher-high. This can keep the door open for a further bullish push, looking for a re-test around 1.0340 after which the 1.0400 level comes into view.
