EUR USD
The European Central Bank had a chance to shoot the EUR/USD down,
but blew its chance and I think this has potentially paved the way for a rally towards the 1.25 handle next.
Relief that the ECB chose not to intervene in the FX markets more meaningfully than just saying it was monitoring the exchange rate developments, and the fact that its easing measures were more or less in line with the expectations, meant that the single currency rose.
The exchange rate has been rising along with most other USD pairs ever since March, as investors reduced their haven dollar exposures in what has been one of the strongest risk rallies we have ever seen. Optimism surrounding a strong global recovery has boosted the appetite for commodity dollars, many emerging markets currencies and the euro.
EUR/USD could be heading higher from here, in my personal opinion. And that’s what the technical indicators are suggesting also.
but blew its chance and I think this has potentially paved the way for a rally towards the 1.25 handle next.
Relief that the ECB chose not to intervene in the FX markets more meaningfully than just saying it was monitoring the exchange rate developments, and the fact that its easing measures were more or less in line with the expectations, meant that the single currency rose.
The exchange rate has been rising along with most other USD pairs ever since March, as investors reduced their haven dollar exposures in what has been one of the strongest risk rallies we have ever seen. Optimism surrounding a strong global recovery has boosted the appetite for commodity dollars, many emerging markets currencies and the euro.
EUR/USD could be heading higher from here, in my personal opinion. And that’s what the technical indicators are suggesting also.
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