RECAP
In our last report (15-Dec-22, EURUSD @ 1.0657), we were looking for a rise to 1.08/10 before a corrective dip to 1.05 while long term view remained bullish for 2023.
As expected, Euro did rise to 1.0778 before consolidating within 1.05-1.08 region. Fall in US inflation has been crucial for Dollar weakness that has boosted the Euro to rise faster than expected over the last couple of months.
EXECUTIVE SUMMARY
Euro has resistance near 1.09/10 which can produce a corrective dip to 1.05/04 in the medium term. Overall view is bullish for Euro in 2023 towards 1.15/16 on an eventual break above 1.10.
The Chinese Yuan has appreciated strongly against the US Dollar over the last couple of months and if it continues, can aid strength in Euro. Important would be to see how long the US Dollar remains weak.
Other important things to look at would be action from the central banks especially the ECB and the FED and the falling pace of inflation in the coming months.
To know more visit https://kshitij.com/eurusd-forecast
In our last report (15-Dec-22, EURUSD @ 1.0657), we were looking for a rise to 1.08/10 before a corrective dip to 1.05 while long term view remained bullish for 2023.
As expected, Euro did rise to 1.0778 before consolidating within 1.05-1.08 region. Fall in US inflation has been crucial for Dollar weakness that has boosted the Euro to rise faster than expected over the last couple of months.
EXECUTIVE SUMMARY
Euro has resistance near 1.09/10 which can produce a corrective dip to 1.05/04 in the medium term. Overall view is bullish for Euro in 2023 towards 1.15/16 on an eventual break above 1.10.
The Chinese Yuan has appreciated strongly against the US Dollar over the last couple of months and if it continues, can aid strength in Euro. Important would be to see how long the US Dollar remains weak.
Other important things to look at would be action from the central banks especially the ECB and the FED and the falling pace of inflation in the coming months.
To know more visit https://kshitij.com/eurusd-forecast