Quarterly Outlook
Q3 Macro Outlook: Less chaos, and hopefully a bit more clarity
John J. Hardy
Global Head of Macro Strategy
Technical Analyst, Saxo Bank Group
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.
Q3 Macro Outlook: Less chaos, and hopefully a bit more clarity