Every week something new happens since Trump became president. Here we go – impeachment. To be honest I think he will not be impeached. There is nothing in that Ukrainian call. Well, maybe Democrats have something else? – Hmm, in this case, all is possible. It reminds me impeachment of Bill Clinton. Do you remember that story? The US stock market fell hard (even more than now) and what happened next? – We had a huge rally. I believe we will see the same now.

Technically Sp500 is bottoming. Well, we have to wait for confirmation, but there is a divergence in the 4h chart already. So, if there will be no more fundamental surprises, the downside is limited and we will see a move towards our final target near 3100.

Last week most of the economic data were positive in the USA. But overall EUR/USD is fundamentally dead. There is a bullish divergence on the daily chart. But I don’t like the price action. Besides, my calculations still show 1.0750 and 1.0700 as a turning point. So, in a few words, there is no good opportunity for short term traders. Long term traders (who used to split lots) can start buying with small lots and add more if we visit the mentioned range.

Wishing you a great week!

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