ridethepig | EUR Market Commentary 2019.11.27

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With Trump Administration desperately attempting to add momentum to the $ downside via another Fed cut and pressure on ECB, combined with a convergence in US-EU differentials will lead to a long-term rebound in EUR. I am expecting volatility to expand into year-end after completing the 76.4% retracement.

For those tracking the USD long-term chart from last month:

Dollar Focus


From a waves perspective a very important year on the macro front which opened up the major monthly reversal targets:

Initial monthly targets: 1.15
Long-term monthly targets: 1.20


Chart of the Week !! - EURUSD (Weekly) - ridethepig


Best of luck all those tracking EUR as we enter the final few pages in the year, and importantly, thanks all for keeping the likes and support coming.
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A very bullish monthly close cooking, we will update this chart in a few days.
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