EURUSD on offer ... switching sides as Fed cut fully priced

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A terrible day for global risk sentiment with all major Equities finishing in the red. Highlights came from Fed Fund futures taking 6bp out of the Fed pricing until December, meaning markets have now fully priced a rate cut by year end. Dollar looks set to take control of the FX board once more as USD bulls enter back into the picture.

I am becoming increasingly concerned that the two sides are too far from each other to find common ground. Trust has been damaged on both sides as the Tweeter in Chief continues to lash out at China in the tit-for-tat escalation. The next key thing to track is whether financial stresses create the necessary pressure to get Xi and Trump on the phone to get talks on track…

After spending the last two weeks positioning around 1.115 for the move towards 1.13 and failing to clear the 1.126 yesterday here I am switching sides and tracking for a "final" flush in EURUSD towards 1.10 before we can start building a healthier floor. This move will make it a lot easier to trade the longer-term rebound in EUR coming later the year.

Good luck and remember to stay nimble.
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As expected bears took charge with a Fed Dec cut completely pricing into the market allowing the USD bid to resume. Will look to take some chips off the table as we approach the bid as usual and leave the rest running for the final targets.

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Monthly open remains offered after the knee jerk reaction from Euro tariff delays.

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As expected. 快照
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Well done those who doubled down on the monthly open ... 1.115 is almost here 快照
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Clearing first targets in the shorts here right on time for the open ... well done those on the sell side, it's time to trail our stops ... 快照
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As expected we begin to chop around here as bears take some chips off the tables 快照
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Spikes here from where we knew Bids would come in... 快照
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Stops swept... 快照
交易結束:目標達成
A late update here... all shorts cleared and beginning to work longs for 1.126
Working longs in EURUSD towards 1.126
Beyond Technical AnalysisChart PatternsdollarecbEUReuroEURUSDfedgreenbackridethepigTrend AnalysisUSD

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