If we can make our way to the recent swing low then i see no structure for 150 pips meaning a swift move 1.2050 might be on the cards.
Multiple technical and fundamental reasons for this play, central bank divergence, general ECB dovishness and lack of inflation, Bond spreads will all also contribute to this.
Net longs on EUR need to be unwound at some point also.
Conversly i think JP Morgan has a target of 1.3000 this year, we shall see.
Multiple technical and fundamental reasons for this play, central bank divergence, general ECB dovishness and lack of inflation, Bond spreads will all also contribute to this.
Net longs on EUR need to be unwound at some point also.
Conversly i think JP Morgan has a target of 1.3000 this year, we shall see.