EUR/USD has closed above 1.0500 for the first time since June. The ING economists say the pair could test the 1.0600 level.
Ignoring some warning signs
“EUR/USD moves should only be based on market reaction to US payrolls today. There is a non-negligible risk that we will explore 1.0600 as the pair has no clear resistance levels until 1.0780 highs.” six months. However, we have a feeling that markets are ignoring at least one red flag for the euro.”
“TTF contracts are now trading at 1-month highs and further upside volatility is possible in the near term as temperatures are expected to drop in Northern Europe. A significant recovery in gas prices would likely make the recent EUR/USD rally unsustainable.”
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.
