A lot of talks about recent EUR rally, a lot of emails I got from you with the one question – “Will it continue?”
So, let’s have a deeper look at this market. We know that the only positive in Europe is the fact that Macron won elections and European zone looks like “more safety and stable” for investors.
But there is another – negative side of “European medal”. It’s not a secret that European economy needs recovery and it takes time. You also know that most of European countries depends on export. So, what we have now? – Strong EUR hurts export, companies loose their profits, it has negative impact on unemployment.
So always pay attantion on what government and Cental bank needs. Don’t be foolish and don’t trust speculative movements. Main function of forex is regulative, not speculative!! But I think many of you have forgotten about it.
ECB don’t need strong EUR now. So, we may expect some kind of consolidation and downtrend into the zone 1.15 – 1.12 and only after we get momentum, ECB recover economy we will see real uptrend reaching 1.30 or even higher. But not now.
That’s all for today!
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