EUR/USD reversal approaches 1.1500 amid higher Oil prices, risk-off markets
The Euro managed to hold inside a trading zone as expected between support 1.1400 and reistance 1.1655 in the last two weeks. The market pulled back as war-end hopes fade.
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Q2 has so far started with a strong bounce in risk markets as stocks and gold and silver have all continued to drive from rallies that showed up on the final day of last quarter.
EUR/USD edges higher as easing US-Iran tensions outweigh support from strong US data
The Euro has come out swinging in early Wednesday trade, capitalizing on a sudden shift in market sentiment that has left the US Dollar nursing its wounds.
EUR/USD has surged towards 1.1600 due to "war optimism" following US President Donald Trump's comments and the hawkish stance of the ECB, which has created a yield differential favoring the Euro. The "Trump Reversal" seems to hold the key.
The Euro managed to hold trades inside a trading zone as expected in the past two weeks. The market managed to rebound again on War-End Hopes to close towards 1.1600.
And the last shall be first. EURUSD bulls have launched a counterattack following Donald Trump's announcement that the conflict in the Middle East would be resolved within 2–3 weeks.
EUR/USD: Upside bias within capped range – UOB