🧵Since 1 #EUR = 1 #USD stablecoin is a big topic now even across mainstream media, let's see how we progress going forward, this will be a shorter one 👇
1/5
1/5
I do expect EUR/USD pair to keep going down for a little longer until it reaches the area of 0.95 - 0.85 which will be a huge area of interest.
From there I do expect a bigger bounce, however not necessarily due to EUR strength but rather USD weakness
2/
From there I do expect a bigger bounce, however not necessarily due to EUR strength but rather USD weakness
2/
If we add an Intermarket analysis we can see the dollar, #DXY, hitting its long-term downward channel and untested resistance.
A perfect scenario for rejection there, which would also indicate EUR move up.
3/
A perfect scenario for rejection there, which would also indicate EUR move up.
3/
Overall however we are heading into a decade of commodity-backed economies worldwide and I expect fiat currencies to keep losing their strength as governments are trying to protect their citizens against expensive energies, housing, food and so on, by printing infinitely.
4/
4/
So overall I expect both EUR & USD losing its purchasing power, however due to bigger USD weakness and not EUR strength the EUR/USD pair going up
5/5
5/5
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