Its a mixed picture, but the weekly chart DOES show a bullish flag that measures to the 1.32 level.....and we just bounced from roughly the 61.8% Fib.
The euro could rally to $1.30 within 12 months, says currency strategist
The euro may make a charge at $1.30 over the next 12 months, aided by a depreciating U.S. dollar, strong buying support from other central banks and an anticipated change in European Central Bank’s policy posture, finally kicking off its policy normalization after years of ultralow interest rates. That’s according to Stephen Gallo, European head of FX strategy at BMO Capital Markets, in a recent research note. “We look for a summer rebound in the euro-dollar pair to $1.21 as the ECB lays the groundwork for a late-2018 quantitative easing reduction,” the BMO strategist said, betting that in 12-months, the pair ... (full story)