The EUR price was pressured by major currencies (NZD, CAD, AUD, GBP) by their interest rate differential prices and the unwinding made by CHF and JPY also pressured the EUR prices. By rule of thumb, the EURJPY and EURCHF prices should be up-trending by their interest rate differential prices and the one sided band SNB policy on EURCHF limits the pressure on EURCHF for price stability. Accordingly, the current price pressured to downward is for harmonized weighted rates of EUR against major currencies in the market.
Consolidated and harmonized target zones analysis is indicating to support the EUR price to be stronger than major currencies with different levels or strength but it is likely that the EUR-pegged pairs will visit their central bands/parities in short term before they are resumed to move to downward in medium term by their interest rate differential price trends.
The short term upward price movement to central bands/parities however will be at mixed performance and at mixed turnaround time by the major currency pairs' target zones. Thus long/buy trade for the following currency pairs still offer opportunity for profit with mixed turnaround time:
Long Trade:
EURCHF (mixed by strong CHF)
EURJPY (mixed by strong JPY)
EURGBP (parallel by weaker GBP)
EURAUD (paallel by weaker AUD)
EURCAD (parallel by weaker CAD)
EURNZD (parallel by weaker NZD)
EURUSD (mixed by strong USD)
The mixed upward-tending market environment requires attention for measuring their weighted average rates to enter and exit the market, but the central bands/parities are assured to be revisited.
Consolidated and harmonized target zones analysis is indicating to support the EUR price to be stronger than major currencies with different levels or strength but it is likely that the EUR-pegged pairs will visit their central bands/parities in short term before they are resumed to move to downward in medium term by their interest rate differential price trends.
The short term upward price movement to central bands/parities however will be at mixed performance and at mixed turnaround time by the major currency pairs' target zones. Thus long/buy trade for the following currency pairs still offer opportunity for profit with mixed turnaround time:
Long Trade:
EURCHF (mixed by strong CHF)
EURJPY (mixed by strong JPY)
EURGBP (parallel by weaker GBP)
EURAUD (paallel by weaker AUD)
EURCAD (parallel by weaker CAD)
EURNZD (parallel by weaker NZD)
EURUSD (mixed by strong USD)
The mixed upward-tending market environment requires attention for measuring their weighted average rates to enter and exit the market, but the central bands/parities are assured to be revisited.