KrunchieKilleen
Long

EUR/USD at bottom of its normal range

FX:EURUSD   Euro Fx/U.S. Dollar
125 2 3
The Euro             is at the bottom of its normal range. It seems to be undervalued relative to the US Dollar             and should rise from here. However, the expectation that US interest rates are to increase while ZIRP and QE continue to apply in the Eurozone puts pressure on the Euro             to sink rather than rise. The fact that US interest rate rise is not now expected until December probably indicates that the trend of EUR/USD             will be hesitantly upwards for the moment.
Why can be a rocket?
+1 Reply
Yes sir, I'm long. Looking to add on retracements if any today. Can be a rocket.
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