The currency pair reached the support area at 1,1500 this week and even made some attempts to go lower. However, bull were on guards and prevented bears from further developping their progress.
Fundamental picture has not changed so far. The Fed still follows the plans to rise rates and to normalise the monetary policy while the European Central Bank still holds their line to hold the current policy unchanged.
There were few interesting events this week. US CPI data was weaker than expected. Those figures were issued on Thursday and lead to a significant EUR/USD growth.
Anyway, we don't think that the currency pair is able to make any significant upward progress in the nearest future. The growht is limited by 1,1750 area while the decline is limited by 1,1500 area.
We think that EUR/USD is likely to grow towards 1,1750 during the next week.
Fundamental picture has not changed so far. The Fed still follows the plans to rise rates and to normalise the monetary policy while the European Central Bank still holds their line to hold the current policy unchanged.
There were few interesting events this week. US CPI data was weaker than expected. Those figures were issued on Thursday and lead to a significant EUR/USD growth.
Anyway, we don't think that the currency pair is able to make any significant upward progress in the nearest future. The growht is limited by 1,1750 area while the decline is limited by 1,1500 area.
We think that EUR/USD is likely to grow towards 1,1750 during the next week.