Almost a year ago we noted that EURUSD’s nonsensical rally would fail and the longer term trend resume. Its recent breakout, manufactured to support stocks, had essentially no economic basis.
Today, as EURUSD approaches that 1.0829 target we charted back then, it seems that economic reality is finally reentering the picture.
Does Putin harbor a more sinister motive in attacking the Zaporizhzhia nuclear power plant? Could the threat of a scorched-earth nuclear “accident” there help drive Ukrainian opposition out of the area, effectively forming a buffer zone that essentially shifts Russia’s border further to the west?
What would that mean to the EU?
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