Given that the euro has given way at all levels because of the theater of war, the euro has not buckled all that much against the British pound.
The antagonists to the euro this week were commodities, which have increased due to extended inflation expectations and supply bottlenecks.
From a technical point of view, one could expect a buyback for the euro on the one hand, but it is uncertain whether this will hold up in the long term.
From a candlestick perspective, buy is supported as it could be about to break out. Also on the monthly chart, we closed the latter with a tight candle, which could indicate high volatility this month.
Further more we should see how the fundamental data will look like.
Thank you for your attention.
If you wish to add anything please write it in the comments.
The antagonists to the euro this week were commodities, which have increased due to extended inflation expectations and supply bottlenecks.
From a technical point of view, one could expect a buyback for the euro on the one hand, but it is uncertain whether this will hold up in the long term.
From a candlestick perspective, buy is supported as it could be about to break out. Also on the monthly chart, we closed the latter with a tight candle, which could indicate high volatility this month.
Further more we should see how the fundamental data will look like.
Thank you for your attention.
If you wish to add anything please write it in the comments.
