Could a short or long term bottom be in for EURUSD?
The situation is very tricky as Europe's condition worsens. As the global economy is in a depression, the USD could keep going higher and higher, especially as the world faces more problems than the US.
In his tread, Marko Papic outlines very eloquently why he thinks the European situation isn't as bad as many think, and he could be right. I am not as optimistic as he is, but there is a chance that the market has bottomed with the sweep of the previous low and the close above it. Even if it hasn't, it provides a nice setup for the short term long. The EURUSD parity is a fundamental psychological level where we could see a lot of chops before it goes either direction.
https://twitter.com/Geo_papic/status/1562183113156878338
In his tread, Marko Papic outlines very eloquently why he thinks the European situation isn't as bad as many think, and he could be right. I am not as optimistic as he is, but there is a chance that the market has bottomed with the sweep of the previous low and the close above it. Even if it hasn't, it provides a nice setup for the short term long. The EURUSD parity is a fundamental psychological level where we could see a lot of chops before it goes either direction.
https://twitter.com/Geo_papic/status/1562183113156878338