Personally couldn't buy EURUSD, as for the fundamentals I cannot talk myself into seeing the EU as a positive. Of course the EURUSD can/will rise, just personally am not a buyer and will continue to look for areas to short..
Well maybe the right thing with EUR/USD is to wait for America president's elections outcome. In my opinion it may change situation a lot and even more than it is now. Because in that side of the world there are so huge and different positions are fighting right now. Save world economy by cutting USA VS save USA economy by cutting rest the world
I will be surprised if they invoke it soon,it will be used as leverage to get a better deal or at least agree terms that the UK is happy with,dragging this matter out will put the UK in a better position,EU wants this dealt with,I can't see Merkel taking the soft approach though.Time for tough love.
If we take a look at other models that work outside of the EU you can see the positives and negatives of each.The EU will act like it's in the driving seat not the UK.A hard line has to be invoked otherwise other countries will follow.
I think the whole Brexit crisis was handled very badly.
The good ole USA interfering. Us Brits kicked back. Now the US wants to invest in the UK with a 'Boeing' maintenance facility.
The EU not doing enough to ensure continuing UK membership. The Brits kicked back for being neglected. Juncker is not a Brit fan and did nothing to stop the calamity. I have a lot of european friends in european countries who are saying they envy the choice we had and made.
The Labour Party did nothing to influence the vote. The Brits kicked back. Not one remain campaign run in my Northern Industrial and major importing town.
The Conservatives & Liberals did very little thinking it was in the bag. The Brits kicked back yet again.
I hope if the EU plays tough then we do too. If not then we have the mandate now to trade with India, China, Canada and all the other countries that find EU conditions so restrictive but are emerging economies.
As for the markets well they will stabilise when they see that the UK is just as viable as it has always been.
Si eius XCIX% Ius ergo est Nefas - Sileo processus (If its 99% Right then it is Wrong - Restart the process)
The EURUSD had another indecisive movement yesterday. The bias is neutral in nearest term probably with a little bullish bias. It’s been a boring three weeks since the Brexit. The market is consolidating and moving sideways but as long as stay below 1.1200 I still prefer a bearish scenario targeting 1.0700. On the downside, we need a clear break below 1.1000 to continue the bearish scenario.
Eur/Usd continue trading between 1.1000 and 1.190 for last 3 weeks without showing a clear direction, the pair currently further to 1.105 zone, giving dollar's strength, we might expect risk remain downside next week.
ECB meeting shortly at 1.30 ,this will be the first after Brexit,it's doubtful much will change because of the short time period,more reassuring if anything.Any swings in either direction could present opportunities for scalping.
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