I'm basing this on a long term trend that happened the last time stocks were doing great and oil was rising.
Best way to see this is on a weekly chart.
I'm not doing exact dates and numbers but this basically goes from Nov 2005 with the euro at around 1.700 to April 2008 when it got into the upper 1.59's and briefly popped over 1.60.**
Figure like 4200 pips in 2 1/2 years.
Now let's go from December 2016 to Jan 2018 which takes the Euro from 1.03 to 1.2300.
Figure like 2000 pips in 13 months.
Excluding Trump or Kim pushing their buttons, I don't see why this can't go another 2000 pips in a year give or take, because that basically replicates what we've already seen the market do when stocks are going well and oil is rising.
**Interesting tidbit: The euro popped over 1.60 the week of April 20 lol
Best way to see this is on a weekly chart.
I'm not doing exact dates and numbers but this basically goes from Nov 2005 with the euro at around 1.700 to April 2008 when it got into the upper 1.59's and briefly popped over 1.60.**
Figure like 4200 pips in 2 1/2 years.
Now let's go from December 2016 to Jan 2018 which takes the Euro from 1.03 to 1.2300.
Figure like 2000 pips in 13 months.
Excluding Trump or Kim pushing their buttons, I don't see why this can't go another 2000 pips in a year give or take, because that basically replicates what we've already seen the market do when stocks are going well and oil is rising.
**Interesting tidbit: The euro popped over 1.60 the week of April 20 lol