The euro (EUR) is finishing the week with another solid daily gain against the US dollar (USD). This is the best weekly performance of the EUR since 2009, according to Bloomberg, says Shaun Osborne, head of Strategy of Scotiabank FX.
The EUR rebound still has a margin to bloom
“The profits at the end of the week have been backed by a slight revision of the increase in the growth of the eurozone in the fourth quarter (0.2% t/t, from 0.1%) and a small additional narrowing in the differentials EZ/USA S&P said that the AAA rating of Germany “not necessarily” is at risk of tax reforms. “
“Solid and sustained gains through 1,0800/05 suggest that EUR profits can be extended to 1,0950/00 (1,0964 is the backward resistance of 76.4% derived from the fall of the EUR of 1.12/1.01). The short and medium -term bundle impulse is favorable for more profits at this time and suggests that the rejection of the EUR still has a margin to flourish. The support is in 1,0800/10 and (key, in the short term) 1.0765. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
