167 days ago • Posted by Charles-Henry Monchau
Deutsche Bank is bullish EUR for at least 4 reasons
Deutsche Bank: "When EUR/USD tried to break 1.20 back in September, we cautioned against chasing the move higher and took profit on our longs. This time is different. With EUR/USD close to the highs, we think conditions are in place for a sustained break of 1.20. First, positioning is no longer extreme with CFTC leveraged long close to flat . Second, the virus wave in Europe is peaking as opposed to taking off . Third, European equity inflows are more definitively picking up . Fourth, the rate of euro appreciation has normalized and ECB verbal intervention has already happened"