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The sudden beneficiary euro provides trade -based sales, and FX analyst at G Chris Turner notes.
EUR/USD faces huge trend resistance in 1.11-1.12
Usually, EUR/JPY has strong positive relationship With the origins of the risk, while the euro keeps it this week. This has nothing to do with positive reassessment The euro area Prospects of growth. No, the news there is terrible and can get worse if the European Union trade officials decide – on Monday in Luxembourg – revenge. ”
“I only remember the commercial blocks of the European Union and China that have the economic muscles for revenge. Instead, we believe that it is the alternative liquidity provided by the euro. There is no doubt that this is something that European policy makers are keen to explore them – and we will write on the topic in the coming weeks about what should happen to make Europeans more attractive to the FX Proversion managers.”
“to Euro/dollarsThere is some huge trend resistance in the 1.11-1.12-12-on the occasion of the bear from its highest level in 2008. Perhaps we will need to see another big step in American stocks to get this area out in the short term. However, we suspect that buyers will appear at 1.1020 as doubts continue to grow about changing the sea in the pre -dollar site as a value store. “
