EUR/USD long term buy is right around the corner!
On the 4 hour and daily chart we have bullish divergence across the board, indicating a change in trend is right around the corner. On the smaller scale of things, here we have a clean impulse with bearish divergence between wave 3 and 5 indicting there will be a correction as soon at the support on the channel is broken. This will be the confirmation needed in my opinion to take a long term position on EUR/USD wave we drop down and hold at a fib retracement level. Also, correlating USD pairs are all in similar situations.
From a fundamental outlook the FED was planning to keep hiking interest rates this year to continue the USD strength and optimism. But there have been several chairmen from the FED saying it might be best to lower interest rates because if they keep increasing the value of the USD its more expensive for foreign countries to buy from us. Which means, they will buy less from our companies. On top of that you have EU and Chinese tariffs hitting our companies exports with in some cases 25% tax. In my opinion we could of won a trade war with the EU, Canada, and Mexico because their economies and exports are somewhat singular. But when Trump poked the Dragon (China) they are very well diversified and started attacking the major companies in the S&P 500 which will lead to a huge sell off of investors in the USA.
From a fundamental outlook the FED was planning to keep hiking interest rates this year to continue the USD strength and optimism. But there have been several chairmen from the FED saying it might be best to lower interest rates because if they keep increasing the value of the USD its more expensive for foreign countries to buy from us. Which means, they will buy less from our companies. On top of that you have EU and Chinese tariffs hitting our companies exports with in some cases 25% tax. In my opinion we could of won a trade war with the EU, Canada, and Mexico because their economies and exports are somewhat singular. But when Trump poked the Dragon (China) they are very well diversified and started attacking the major companies in the S&P 500 which will lead to a huge sell off of investors in the USA.
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