I don't see the Euro inverting anything.
Still, good to keep an eye on this however.
Ultimately, there is still a US$ shortage globally and countries that have sold sovereign debt in US$ will need to start hoarding US$ in great quantities again. The recent spurt in the equity markets have temporarily relieved the need for cash Dollars. I do not believe this will last even if the equity markets should carry on rising.
The technical levels are very clear. I think we have till the US election for a resumption in the main trend
Still, good to keep an eye on this however.
Ultimately, there is still a US$ shortage globally and countries that have sold sovereign debt in US$ will need to start hoarding US$ in great quantities again. The recent spurt in the equity markets have temporarily relieved the need for cash Dollars. I do not believe this will last even if the equity markets should carry on rising.
The technical levels are very clear. I think we have till the US election for a resumption in the main trend
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So far so good
