Cross the Aisle Trump finally revealed himself as he not only suffers from severe Stockholm Syndrome but he’s a Progressive Teddy Roosevelt Republican aligned with Paul Ryan and the majority of Republicans in the House and Senate. Progressive is a kind modern day term for Communism and the Teddy Roosevelt Republicans represent Communism in a lighter form. Trump’s agenda will represent more of the same as we’ve seen from the last four presidents after Reagan’s departure. Trump and Ryan’s words after the ACA failure were truly weak and extremely vulnerable to Democrat enemies of America. Trump either aligns with the Freedom Caucus or little hope is held to his words or agenda.
EUR/USD. Headwinds at 1.0880’s and above now face EUR/USD at 1.0884, 1.0893, 1.0900, 1.0910 and 1.0929 . The always accurate and quick trade today was long Europe and sell America as EUR/USD now sits at the top of its daily range.
In days ahead, range point targets are located at 1.1003 and 1.1019 yet current EUR is overbought and informs the topside faces tough resistance.
The bottom side to EUR/USD overall is fortified by massive resistance at the rising line at 1.0732. For today, we’re looking to 1.0829, 1.0819, 1.0812 and 1.0801.
Further, EUR/JPY to head higher must cross 120.12, 120.78 and 112.45.
EUR/CHF remains truly a problem currency pair. The vital long and short points are located at 1.0727 and 1.0707.
EUR/CAD is far overbought and ranges inside major break points at 1.4275 and 1.4326 V above at 1.4599.
EUR/NZD is not only overbought from its short term averages but far overbought from vital break points below at 1.5165 and 1.4957.
EUR/AUD. Truly a terrific currency pair and great mover. Currently overbought from short term averages yet current price sits on vital support points at 1.4120, 1.4125 and 1.4190. We view EUR/AUD from the AUD/EUR perspective as those supports are located at 1.4127, 1.4116 and 1.4110.
EUR/GBP also remains a problem currency pair as the internal numbers are plain scary. Vital supports are located at 0.8631 and 0.8562.