With the start of a new trading week, we take stock of the EUR/USD exchange rate and discuss possible options for its evolution.
The intraday trend has changed as the four-hour chart shows a healthy rising sequence of peaks and troughs.
The rise of the communist candidate Jean-Luc Mélenchon has been the biggest surprise of the end-game in the French presidential election.
The EUR/USD pair is moving in a tight sideways range between 1.0600 and 1.0685 which is expected to extend or fall in the week ahead.
The EUR/USD has fallen quite sharply from its 1.0903 March peak and is currently trading at the level of a trendline at 1.0600; it is poised to seek lower levels in the 1.0500s.
The Euro was seen advancing on the Pound and Dollar following the release of some better-than-expected sentiment data out of the Eurozone.
The Euro continues falling against the Dollar as we enter a new week of trading, with the exchange rate poised to move down towards 1.0500.
If Marine Le Pen wins the French Presidential election it will cause a lot of uncertainty about the future of the European project and the Euro currency, but what about the impact on EUR/USD?
EUR/USD has been consolidating over the last few days after the sharp move lower from the March high, overall bears remain in control.
The recent recovery rally in EUR/USD is really just an opportunity to sell the pair again, says BNP Paribas’ Daniel Katzive, who continues to be bullish the Dollar.
It is possible to conclude that the tide may now have turned back in favour of the Dollar, at least in the case of the EUR/USD pair, as the two monetary policies diverge even more widely than before.
Sources close the European Central Bank (ECB) have complained that markets overreacted to its March policy meeting.
The EUR/USD has been in a short-term uptrend which has been fuelled by improving economic conditions in the Eurozone and a deleveraging of political risk since the defeat of the anti-EU PVV party in the Dutch elections.
The EUR/USD has pulled back to the trendline joining the tops of the previous range highs and now looks poised to regain momentum higher.
EUR/USD has climbed from its February lows in the 1.05s to a current market rate of 1.0755.
EUR/USD has been rising steadily on an improved outlook for the Eurozone and a reigning back of rampant interest rate expectations in the US.
The EUR/USD pair, which is currently trading in the 1.06s will eventually rise to 1.15 once near term once immediate downside drivers have passed, say Nomura.
The Euro could remain flat for an extended period of time due to chronically subdued inflation, according to a recent report by Danske bank.
EUR/USD has broken above some key levels such as the 50-day moving average and the trendline for the move down from the February highs.
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