Euro is undervalued and USD is way more strong than what US government wants. If someone asked us which currency is wrong priced USD will be the one.
Euro shows first signs of strength and to be honest we believe since the trade war is going very well Europe will be back on its feet. We expect the Euro to strengthen.
On the other hand, US elections are coming and Trump needs things to speak about so we expect US Gov to further influence USD Index to lower.
We expect EURUSD to be close to 1.20 near the US election date of 2020 November 3. Yes, in one year's time but we are talking about 9000 pips profit so its something you should consider very seriously.
We recommend to buy EURUSD at 1.11 but you should use a Future.
If you don't know how or where to trade a future for EURUSD drop us a line in our email firstname.lastname@example.org and we will be back asap.
How positive we are about this movement?
for 1.20 price target, we have a 65% chance
but we have a 99% confidence EURUSD will move upwards.
In any case, opening a long future position on EURUSD at 1.11 can only be profitable in our wolf view.
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