EUR WEAKNESS TO COME (EXY monthly view)

Hi All,

We have been trading the EURUSD all year with a strong bias towards the downside.

Looking at the monthly "EXY" Euro currency index we can clearly see a strong momentum building to the downside (falling wedge cycle).

Observing the latest economic climate highlights the worsening slump within the EU bloc. With the ongoing Brexit and Germany looking towards a recession and with key EU zones weakening we can only see further weakness in the EU looming.