EUR/USD Forecast: Retreating from highs but still bullish :

EUR/USD Forecast: Retreating from highs but still bullish


4/20/2021 12:45:27 PM GMT
EUR/USD Current Price: 1.2027
The American currency recovers modestly following the sour tone of equities.
A scarce macroeconomic calendar leaves currency pairs in the hands of sentiment.
EUR/USD corrects overbought conditions but holds well above 1.2000.
The EUR/USD pair extended its advance to 1.2079, a fresh one-month high, retreating afterwards but holding on to substantial weekly gains in the 1.2040 price zone. The sour tone of Asian and European equities, sharply down after Monday’s gains, paused the dollar’s decline and helped it bounce modestly. Nevertheless, it remains the weakest currency across the FX board.
The macroeconomic calendar has little to offer this Tuesday. Germany published the March Producer Price Index, which surprised to the upside by printing at 0.9% MoM and 3.7% YoY. The US macroeconomic calendar has nothing relevant to offer today.

Related Keywords

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