The majority believes that the EUR/USD rally in October was just a correction in the downtrend
Trends break down when the market majority is sure that it is right. At the beginning of the year, economists forecast the dollar weakening. In November, nearly two-thirds of 56 analysts who took part in the Reuters poll the dollar’s dominance will continue for at least another six months, and even if a “phase one” trade agreement is signed by Washington and Beijing it will at most knock the currency by 1-2% in the short run. Societe Generale believes that the EUR/USD will crash…
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