What's in store for $EURUSD this week? Get our forecast and predictions here
trend of the EUR/USD, they should note the reversal lower going into the weekend was caused by nervous behavioral sentiment which still exists in Forex regarding potential USD strength.
However, traders need to remain realistic, if the reversal lower didn’t cause concern then it should be remembered the threat of more interest rate hikes from the U.S Fed lurks. The U.S central bank is almost guaranteed to hike by another quarter of a point in early May, and concerns are legitimate that another 0.25% in June could follow. This may produce some shadows over the EUR/USD this week as behavioral sentiment reacts to the outlooks of financial institutions.
Having finished the week closer to the 1.10000 ratios, day traders may be tempted to aim for the higher levels seen early this past Friday, this before a stumble lower was produced before going into the weekend.
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