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Published on Nov 21, 2016
The
EUR/USD pair rallied during the session on Monday, as the market has
been far too oversold at this point to continue going lower. At this
moment, I believe that it’s simply a matter of waiting for exhaustion
above in order to start selling. I have no interest whatsoever in buying
this market, and I believe that the bearish pressure on the Euro will
continue going forward because of all of the issues in the European
Union. Furthermore, the Federal Reserve is likely to raise interest
rates fairly soon and this of course is not a surprise or secret. The US
dollar will continue to strengthen based upon that and the election of
Donald Trump as it is considered to be a much more friendly environment
for businesses. Ultimately, I believe that we will test the 1.05 level
again, and possibly even break him below there and reach towards the
parity level.
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