The EUR/USD pair initially tried to rally during the day on Thursday but found itself turning around due to the fact that the ECB is going to expand and
The EUR/USD pair initially tried to rally during the day on Thursday but found itself turning around due to the fact that the ECB is going to expand and links in its quantitative easing overall, and that of course is negative for the Euro. We seem all but guaranteed to test the 1.05 level below for support, and will probably now end up breaking below there and reaching towards the parity level. Rally should be selling opportunities, and I believe that this market will continue to favor the US dollar over the longer term.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
