EUR/USD (current price: 1.1186)
The Euro gained ground for the third day in a row compared to the Dollar, as the common currency is now stronger than it was before Friday’s U.S. employment report. Investors now think that despite the better than expected indicators, the FED probably won’t raise interest rates later this year, as international worries still mean dangers even for the strong U.S. economy. The pair rebounded off the 200-day MA yet again this week, and traders will likely focus on the crucial indicator in the coming weeks as well.
Our assessment: EUR/USD is still above the prior declining trend channel, and a new uptrend might start in the coming days if global markets remain bullish.
