Pashabxl

EURUSD: USD is still consolidating against EUR until 1.295

FX:EURUSD   Euro / U.S. Dollar
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ECB President aim remain the same. Importing inflation to Eurozone in orther to stimulate an increase of price that to spark a beginning of growth in the EUROZONE market.
To do so, Draghi is trying to lower the price of EUR against USD.
Bu so far, the move has not been as sharp and efficient as Draghi would have expect.
Of course EUR will not hit anymore 1.395 at all. The general trend is on the down side. However, the downside trend faces upside correction from time to time, and if we can't call it a proper correction, we can say that it is an adjustment of the equilibrium between EUR and USD.
Therefore, since T-LTRO did nt make the effect expected and since FED didn't yet make public a calender concerning when the institution would raise the interest rate and having in mind that ECB interest rate are lower then FED's one, on a medium term, EUR sould come at 1-15 level and even bellow if commodities prices remain as low as it is now.
On the upside part of the story, USD is consolidating and there is still a room for the pair to move towards 1.295-1.30 before going deep down bellow 1.25 towards 1.20 and 1.15 if not bellow that level as well.
I think we'll get more clarity after next week's FOMC
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Pashabxl justatrader
ytes very much you are right
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