The models are broken
The market is trying to get back to the pre-Covid and pre-war times, but that model is broken. A new dawn is here and the financial world needs to adapt.
Steen Jakobsen,
Chief Investment Officer
Technical Analyst, Saxo Bank
1.21 seems to be a Pivot point for EURUSD. Breaking below last week fueled a sell off down to 1.08. Bouncing back to test the 1.1121 only to be rejected. EURUSD is likely to test 1.0725 support. If breaking below which is not unlikely testing of parity is in the cards.