Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
EUR/USD resilience is the name of the game and these last couple of weeks are just a case in a point. ECB speakers tried to talk the singl currency down, EUR/USD inched higher. Very strong US data that bet all of the expectations, EUR/USD still on the rise.
So, what is actually going on? Simply put it, cash flows still have the upper hand over macro fundamentals in driving EUR/USD. The latest proprietary flows data from Deutsche Bank released today solidifies this argument.
"M&A flows in the United States turned sharply negative over the week, on account of a USD 15.7bn deal fixed between Euro zone and US. The economy has now witnessed outflows on 3 month basis of -16bn USD seeing YTD inflows fall to USD 8bn. In contrast, inflows to the Eurozone have surged to USD 32bn on 3-month basis. The region’s YTD inflows of USD 35bn are more than half of the total capital it attracted last year," DB reports in a note to clients.
Structural USD bulls, DB included, believe that flows will eventually follow fundaments and start to reverse course. Well, until then EUR/USD will likely stay well supported.
This is same chart..thought I might point out the long trade on it....at open of candle with blue arrow under it...technically it's still in play. I missed out on it.
IF EU still continue to fall then .3571x/.3457x is a good number in my view, But still, i think EU is still going to rise in the long run (monthly perspective).
