Last Friday the EUR / USD pair continued to rise favored by a wave of long-term dollar liquidity liquidations. The euro gained significantly ground against the dollar, eventually crossing the region 1.12, ready to rise again.

Atcually on Friday the couple did not go far beyond the region of 1.12; The fact that sales in this region were limited and that the pair continued to swing near the maximum of the oscillation range at weekends, demonstrating the validity of the trend and suggesting a further bullish rise in the week.

Last week a market share suggested that, with time, President Trump could go to an impeachment procedure. For now, it is only rumors of the corridor, but political issues continue to increase leading to political paralysis for its presidency, a circumstance that could further support this hypothesis. The hypothesis circulates in political environments has been enough to offset the prospect of a rise in rates by the Fed in June; We will see if the authorities will be influenced by the above-mentioned problems.

The above mentioned has kept the dollar on defensive last week and this week I do not think there is a truce in sight for the dollar. In the rest of today’s day, no major economic data is expected from the euro zone or the United States, so we expect a consolidation phase with a bullish trend.



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