EURUSD BREAKS 2 YEAR TRENDLINE
An excerpt written in January 2024. We discussed, the 2-year trendline, which EUR was testing
As projected, the EUR has surpassed the 1.1100 level, breaking through the two-year trendline. The big question is whether this is a false breakout, or the dollar is set to weaken for the remainder of the year.
One level to monitor closely is 1.1360, I suspect this to be a false breakout. If the price fails to maintain this level, the EUR could potentially reach parity (1.000) against the dollar, soon!!
We should brace for heightened volatility, which could occur within the next two months. Additionally?MonkeyPox has found its legs to Bloomberg, we can expect further volatility, similar to Covid times, alongside the upcoming elections.
If the 1.1360 level holds, the trend should continue to 1.1950, meaning the FED will likely cut rates at the September meeting. With Jackson Hole approaching this Friday and ongoing geopolitical risks, reaching 1.1360 could be a possibility as early as next week.
Personally, I am excited about the recent developments in the financial markets. Currencies have been consolidating for the past two years. The current fluctuations and potential breakouts signal a shift that could lead to increased volatility and movement in currency pairs.
#TheMother
Determined...
6 个月As we wait for 1400hrs GMT... wonderful article.