What will affect the sentiment about EUR/USD will mainly be the actions of the European Central Bank and the Federal Reserve.
The next Fed meeting will be the next month when 88% of the expectations are for interest rates hike. On the other hand US data do not support this increase which makes it still questionable. Either way, moods are about interest rates hike which may support the approach of the meeting.
Yesterday, Mario Draghi said he was behind the policy of the bank for low interest rates and incentives. This is that way and the market knows it but data by Eurozone is improving which may mean soon speech changing and first phrases of QE termination. That is why we may expect an increase of the EUR in the coming months.
Stefan D. Angelov - Head of Stocks Trading
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