EUR/USD Weekly Forecast: Bulls gearing up for another run towards 1.2350 : vimarsana.com

EUR/USD Weekly Forecast: Bulls gearing up for another run towards 1.2350


2/19/2021 3:19:29 PM GMT
Policymakers from the EU and the US pledged to maintain exceptional monetary easing.
Slow economic progress and pandemic fatigue weighing on investors’ mood.
EUR/USD long-term bullish stance remains firmly in place.
The EUR/USD pair ends the week where it started, in the 1.2130 price zone, and while it expanded its weekly range, it held within familiar levels. Investors’ attention centred on US Treasury yields, as long-term ones soared to one-year highs. The dollar initially rallied with yields, but the exceptional correlation was short-lived, fading as the days went by.
Central banks aligned
Speculative interest had little to work with, still waiting for fundamental headlines related to a new stimulus package in the US and progress in the battle against the coronavirus. The financial world seems to have entered a new stage of pandemic fatigue, trapped between concerns related to new strains and delayed vaccines’ deliveries, and hopes for an economic comeback in the second half of the year.

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